Scully Royalty Ltd. (NYSE:SRL) Sees Significant Decrease in Short Interest

Scully Royalty Ltd. (NYSE:SRL) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 3,900 shares, a drop of 20.4% from the March 31st total of 4,900 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 9,700 shares, the days-to-cover ratio is presently 0.4 days.

Shares of SRL stock traded up $0.12 on Tuesday, hitting $13.15. 58,278 shares of the stock traded hands, compared to its average volume of 17,091. Scully Royalty has a 52 week low of $3.53 and a 52 week high of $14.00. The firm has a 50 day simple moving average of $8.87 and a two-hundred day simple moving average of $6.83.

Separately, Robert W. Baird reissued a “buy” rating and issued a $78.00 target price on shares of Scully Royalty in a report on Thursday, April 29th.

Scully Royalty Company Profile

Scully Royalty Ltd. operates as a merchant banking company worldwide. The company operates through Iron Ore Royalty, Industrial Equity, and Merkanti Holding segments. The Iron Ore Royalty segment includes interest in a Scully iron ore mine. The Industrial Equity segment consists of various projects in resources and services, including hydrocarbon production and processing assets in Canada, as well as a mining sub-lease of the lands upon which the Scully iron ore mine is situated in Newfoundland and Labrador, Canada.

Further Reading: Depreciation

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