Short Interest in Beneficient (NASDAQ:BENF) Declines By 27.5%

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

Beneficient Price Performance

BENF traded up $0.00 during mid-day trading on Wednesday, reaching $0.67. 171,147 shares of the company traded hands, compared to its average volume of 294,498. Beneficient has a 52-week low of $0.60 and a 52-week high of $35.06. The company’s fifty day moving average price is $0.86 and its 200-day moving average price is $1.68.

Insider Activity

In related news, Director Peter T. Cangany, Jr. acquired 75,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average price of $0.93 per share, for a total transaction of $69,750.00. Following the completion of the transaction, the director now directly owns 300,000 shares in the company, valued at approximately $279,000. This trade represents a 33.33 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 17,729 shares of company stock valued at $14,290 in the last 90 days. 13.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Beneficient stock. Stifel Financial Corp lifted its holdings in Beneficient (NASDAQ:BENF) by 138.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,300 shares of the company’s stock after purchasing an additional 14,100 shares during the period. Stifel Financial Corp owned about 0.57% of Beneficient worth $30,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 90.57% of the company’s stock.

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.