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

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

Insider Transactions at Beneficient

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 transaction of $1,404,967.23. Following the completion of the sale, the insider now directly 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 legal filing with the SEC, which is available through this link. Also, Director Peter T. Cangany, Jr. acquired 75,000 shares of Beneficient stock in a transaction dated Tuesday, November 19th. The shares were bought at an average cost of $0.93 per share, with a total value of $69,750.00. Following the completion of the purchase, the director now owns 300,000 shares in the company, valued at approximately $279,000. This represents a 33.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 778,762 shares of company stock valued at $1,932,855 in the last three months. 13.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Beneficient

A hedge fund recently bought a new stake in Beneficient stock. State Street Corp bought a new position in Beneficient (NASDAQ:BENF) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 59,554 shares of the company’s stock, valued at approximately $73,000. State Street Corp owned 1.40% of Beneficient as of its most recent SEC filing. Hedge funds and other institutional investors own 90.57% of the company’s stock.

Beneficient Stock Performance

Shares of Beneficient stock traded down $0.04 during midday trading on Friday, hitting $0.87. The company’s stock had a trading volume of 347,867 shares, compared to its average volume of 2,063,443. The stock has a 50-day simple moving average of $1.23 and a 200-day simple moving average of $2.24. Beneficient has a 1-year low of $0.72 and a 1-year high of $51.14.

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.