Beneficient (NASDAQ:BENF) Sees Significant Decrease in Short Interest

Beneficient (NASDAQ:BENF) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 164,100 shares, a decrease of 27.5% from the December 15th total of 226,400 shares. Approximately 4.4% of the company’s shares are sold short. Based on an average trading volume of 2,090,000 shares, the days-to-cover ratio is presently 0.1 days.

Insider Transactions at Beneficient

In other news, Director Peter T. Cangany, Jr. acquired 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were purchased at an average price of $0.93 per share, for a total transaction of $69,750.00. Following the acquisition, the director now owns 300,000 shares of the company’s stock, valued at $279,000. This represents a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 17,729 shares of company stock worth $14,290. 13.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Beneficient stock. State Street Corp purchased a new stake in Beneficient (NASDAQ:BENF) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 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. 90.57% of the stock is currently owned by institutional investors and hedge funds.

Beneficient Stock Performance

NASDAQ BENF traded up $0.01 during trading on Thursday, hitting $0.69. The stock had a trading volume of 98,085 shares, compared to its average volume of 276,208. The firm has a 50 day moving average price of $0.84 and a 200 day moving average price of $1.67. Beneficient has a twelve month low of $0.60 and a twelve month high of $32.00.

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.