Scully Royalty (NYSE:SRL) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Scully Royalty Ltd. (NYSE:SRL) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $7.89 and traded as low as $7.72. Scully Royalty shares last traded at $7.72, with a volume of 3,466 shares changing hands.

Scully Royalty Trading Down 1.4 %

The firm’s fifty day moving average is $7.89 and its 200 day moving average is $7.79.

Scully Royalty Cuts Dividend

The company also recently declared a — dividend, which was paid on Friday, February 21st. Investors of record on Friday, January 24th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, January 24th.

Hedge Funds Weigh In On Scully Royalty

An institutional investor recently raised its position in Scully Royalty stock. Nantahala Capital Management LLC boosted its position in shares of Scully Royalty Ltd. (NYSE:SRL) by 54.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 about 2.49% of Scully Royalty worth $3,410,000 as of its most recent SEC filing. Institutional investors and hedge funds own 41.96% of the company’s stock.

Scully Royalty Company Profile

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.