Torchlight Energy Resources, In (NASDAQ:TRCH) Short interest grew by 7.13% – Shares Trading Down

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Short traders are more bearish on shares of the company of late if you consider the increase in short interest. The stock saw a rise in short interest of 7.13% as of the latest report on August 31, 2017. Short interest grew from 2,692,577 to 2,884,623 over that timeframe. With short interest at 2,884,623 and short average daily volume at 355,578, the short-interest ratio is 8.0 and the percentage of shorted shares is 0.05% as of August 31.

These firms have modified their investment in TRCH. Raymond James Financial Services Advisors, Inc. bolstered its stake by buying 277,388 shares an increase of 55.2% in the quarter. Raymond James Financial Services Advisors, Inc. currently owns 779,787 shares valued at $1,294,000. The value of the position overall is up by 84.1%. Amg National Trust Bank reduced its position by shedding 100,000 shares a decrease of 7.1% as of 06/30/2017. Amg National Trust Bank now controls 1,317,152 shares with a value of $2,186,000. The total value of its holdings increased 10.2%.

As of quarter end Bank Of NEW York Mellon Corp had sold a total of 2,126 shares trimming its holdings by 21.3%. The value in dollars went from $14,000 to $13,000 a change of $1,000 quarter over quarter. As of the end of the quarter Blackrock Inc. had disposed of 15,099 shares trimming its stake by 67.2%. The value of the investment in (TRCH) decreased from $31,000 to $12,000 decreasing 61.3% for the reporting period.

The company is down by 0.90%% since yesterday’s close of 1.33. Company shares last traded at $1.32 just a bit higher than $1.21, the stock’s 50 day moving average and a tad below the 200 day moving average of $1.38. The 50 day moving average moved up $0.11 and the 200 day average went down by -4.668%.

Torchlight Energy Resources, Inc. (Torchlight), launched on October 30, 2007, is involved in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States. The Company focuses on drilling and working interest programs within the United States. The Company has interests in approximately four oil and gas projects: the Marcelina Creek Field Development in Wilson County, Texas; the Ring Energy Joint Venture in Southwest Kansas; Hunton wells in partnership with Husky Ventures in Central Oklahoma, and the Orogrande Project in Hudspeth County, Texas. The Company also operates through two other subsidiaries, including Torchlight Energy Operating, LLC, a Texas limited liability company, and Hudspeth Oil Corporation, a Texas corporation..