Trust Asset Management Lowers stake in SandRidge Permian Trust (PER)

SandRidge Permian Trust (PER) : Trust Asset Management reduced its stake in SandRidge Permian Trust by 9.58% during the most recent quarter end. The investment management company now holds a total of 2,239,808 shares of SandRidge Permian Trust which is valued at $6,361,055 after selling 237,207 shares in SandRidge Permian Trust , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.SandRidge Permian Trust makes up approximately 2.58% of Trust Asset Management’s portfolio.

SandRidge Permian Trust closed down -0.03 points or -1.06% at $2.79 with 74,495 shares getting traded on Tuesday. Post opening the session at $2.8, the shares hit an intraday low of $2.78 and an intraday high of $2.84 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

Sandridge Permian Trust is a statutory trust formed under the Delaware Statutory Trust Act pursuant to a trust agreement by and among SandRidge Energy Inc. (SandRidge) as Trustor The Bank of New York Mellon Trust Company N.A. as Trustee (the Trustee) and The Corporation Trust Company as Delaware Trustee (the Delaware Trustee). The Trust holds Royalty Interests in specified oil and natural gas properties in the Permian Basin located in Andrews County Texas (the Underlying Properties).

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