Short Interest in Beneficient (NASDAQ:BENF) Declines By 19.2%

Beneficient (NASDAQ:BENF) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 108,900 shares, a decrease of 19.2% from the October 31st total of 134,700 shares. Based on an average daily volume of 5,500,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately 2.9% of the company’s stock are short sold.

Insider Buying and Selling

In other news, major shareholder Gwg Wind Down Trust sold 479,511 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $2.93, for a total value of $1,404,967.23. Following the completion of the sale, the insider now owns 643,178 shares of the company’s stock, valued at $1,884,511.54. This trade represents a 42.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter T. Cangany, Jr. bought 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average price of $0.93 per share, for a total transaction of $69,750.00. Following the completion of the purchase, the director now owns 300,000 shares in the company, valued at $279,000. The trade was a 33.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 778,762 shares of company stock worth $1,932,855 in the last three months. 13.69% of the stock is owned by insiders.

Institutional Trading of Beneficient

A hedge fund recently raised its stake in Beneficient stock. Stifel Financial Corp lifted its holdings in Beneficient (NASDAQ:BENF) by 138.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,300 shares of the company’s stock after acquiring an additional 14,100 shares during the quarter. Stifel Financial Corp owned 0.57% of Beneficient worth $30,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 90.57% of the company’s stock.

Beneficient Price Performance

Shares of BENF stock traded down $0.05 during trading hours on Monday, reaching $0.82. 435,116 shares of the company’s stock were exchanged, compared to its average volume of 2,056,393. Beneficient has a 1 year low of $0.72 and a 1 year high of $48.72. The stock’s fifty day moving average price is $1.23 and its two-hundred day moving average price is $2.21.

About Beneficient

Beneficient, a technology-enabled financial services company, provides liquidity solutions and related trustee, custody and trust administrative services to participants in the alternative asset industry in the United States. It operates through Ben Liquidity, Ben Custody, and Customer ExAlt Trusts segments.