Scully Royalty (NYSE:SRL) Shares Cross Below Fifty Day Moving Average – What’s Next?

Scully Royalty Ltd. (NYSE:SRL) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $7.74 and traded as low as $6.70. Scully Royalty shares last traded at $6.84, with a volume of 5,256 shares traded.

Scully Royalty Trading Down 6.0%

The firm’s 50 day moving average is $7.74 and its 200 day moving average is $7.70.

Institutional Investors Weigh In On Scully Royalty

An institutional investor recently raised its position in Scully Royalty stock. Nantahala Capital Management LLC lifted its stake in shares of Scully Royalty Ltd. (NYSE:SRL) by 54.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 368,596 shares of the financial services provider’s stock after purchasing an additional 129,399 shares during the period. Nantahala Capital Management LLC owned approximately 2.49% of Scully Royalty worth $3,410,000 at the end of the most recent quarter. 41.96% of the stock is currently owned by hedge funds and other institutional investors.

About Scully Royalty

Scully Royalty Ltd. operates as an iron ore mining company in the Americas, Africa, Canada, Asia, and Europe. It operates through three segments: Royalty, Industrial, and Merchant Banking. The company holds royalty interest in the Scully iron ore mine located in the Province of Newfoundland and Labrador, Canada.