Beneficient (NASDAQ:BENF) Sees Large Increase in Short Interest

Beneficient (NASDAQ:BENF) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 319,300 shares, a growth of 193.2% from the November 15th total of 108,900 shares. Based on an average daily volume of 3,740,000 shares, the short-interest ratio is currently 0.1 days. Approximately 8.7% of the shares of the company are short sold.

Insiders Place Their Bets

In other Beneficient news, Director Peter T. Cangany, Jr. acquired 75,000 shares of Beneficient stock in a transaction dated Tuesday, November 19th. The stock was bought at an average cost of $0.93 per share, with a total value of $69,750.00. Following the acquisition, the director now owns 300,000 shares of the company’s stock, valued at approximately $279,000. The trade was a 33.33 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Gwg Wind Down Trust sold 188,292 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $1.79, for a total transaction of $337,042.68. Following the sale, the insider now owns 348,183 shares of the company’s stock, valued at $623,247.57. This trade represents a 35.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 199,034 shares of company stock worth $346,446 in the last ninety days. Insiders own 13.69% of the company’s stock.

Institutional Investors Weigh In On Beneficient

A hedge fund recently raised its stake in Beneficient stock. Stifel Financial Corp grew its stake in Beneficient (NASDAQ:BENF) by 138.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter. 90.57% of the stock is owned by institutional investors and hedge funds.

Beneficient Stock Up 2.5 %

BENF opened at $0.81 on Friday. The company has a fifty day moving average price of $1.15 and a two-hundred day moving average price of $2.06. Beneficient has a 52 week low of $0.72 and a 52 week high of $47.94.

Beneficient Company Profile

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.