Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Sees Large Decrease in Short Interest

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a large decrease in short interest in July. As of July 15th, there was short interest totalling 33,200 shares, a decrease of 31.3% from the June 30th total of 48,300 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 22,800 shares, the days-to-cover ratio is currently 1.5 days.

Bassett Furniture Industries Price Performance

Bassett Furniture Industries stock traded up $0.14 during trading hours on Friday, hitting $13.45. The stock had a trading volume of 6,857 shares, compared to its average volume of 22,796. The business’s 50 day simple moving average is $14.01 and its 200-day simple moving average is $14.56. Bassett Furniture Industries has a one year low of $13.02 and a one year high of $17.89.

Bassett Furniture Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 16th. This is an increase from Bassett Furniture Industries’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 5.95%. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently -41.62%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Bassett Furniture Industries from a “buy” rating to a “hold” rating in a report on Saturday, April 6th.

Hedge Funds Weigh In On Bassett Furniture Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSET. Empowered Funds LLC increased its holdings in Bassett Furniture Industries by 7.5% in the first quarter. Empowered Funds LLC now owns 22,593 shares of the company’s stock valued at $333,000 after purchasing an additional 1,575 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Bassett Furniture Industries during the first quarter worth about $224,000. 1620 Investment Advisors Inc. acquired a new position in shares of Bassett Furniture Industries in the fourth quarter worth approximately $218,000. Finally, Inspire Advisors LLC boosted its holdings in Bassett Furniture Industries by 8.0% in the first quarter. Inspire Advisors LLC now owns 11,872 shares of the company’s stock valued at $175,000 after acquiring an additional 880 shares during the last quarter. 54.40% of the stock is currently owned by institutional investors and hedge funds.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.