Insider Buying: Smart for Life, Inc. (NASDAQ:SMFL) Major Shareholder Buys 17,722 Shares of Stock

Smart for Life, Inc. (NASDAQ:SMFL) major shareholder Financial Lp Hrt acquired 17,722 shares of the company’s stock in a transaction on Monday, September 9th. The shares were acquired at an average cost of $0.94 per share, for a total transaction of $16,658.68. Following the completion of the acquisition, the insider now owns 21,674 shares of the company’s stock, valued at $20,373.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Thursday, September 5th, Financial Lp Hrt sold 5,991 shares of Smart for Life stock. The shares were sold at an average price of $1.08, for a total transaction of $6,470.28.

Smart for Life Stock Performance

Shares of SMFL stock opened at $1.21 on Friday. The firm’s 50 day moving average is $1.59 and its 200 day moving average is $3.23. Smart for Life, Inc. has a 12 month low of $0.78 and a 12 month high of $39.20.

Hedge Funds Weigh In On Smart for Life

A hedge fund recently bought a new stake in Smart for Life stock. Wealthspire Advisors LLC acquired a new position in shares of Smart for Life, Inc. (NASDAQ:SMFL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,731 shares of the company’s stock, valued at approximately $61,000. Wealthspire Advisors LLC owned approximately 18.85% of Smart for Life as of its most recent filing with the Securities and Exchange Commission. 28.39% of the stock is currently owned by institutional investors and hedge funds.

About Smart for Life

Smart for Life, Inc acquires, develops, manufactures, operates, markets, and sells nutraceutical and related products in the United States and internationally. It offers natural health and wellness meal replacement products, including nutrition bars, cookies, soups and shakes, vitamins, and supplements under the Smart for Life brand; dietary supplements; and nutritional products, including whey protein isolate powder, tablet supplements for joint health, nitric oxide, post workout blends, Omega-3 supplements, and pre-workout supplements under the Sports Illustrated Nutrition brand for athletes and active lifestyle consumers.