NI (NASDAQ:NODK) Shares Down 0.9% – Here’s Why

Shares of NI Holdings, Inc. (NASDAQ:NODK) dropped 0.9% during mid-day trading on Thursday . The stock traded as low as $15.44 and last traded at $15.56. Approximately 8,877 shares changed hands during trading, a decline of 53% from the average daily volume of 18,963 shares. The stock had previously closed at $15.70.

NI Trading Down 0.9 %

The stock has a 50-day moving average price of $16.00 and a 200 day moving average price of $15.51. The stock has a market capitalization of $321.30 million, a price-to-earnings ratio of -55.57 and a beta of 0.37.

Hedge Funds Weigh In On NI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in shares of NI by 108.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,391 shares of the company’s stock worth $241,000 after purchasing an additional 8,025 shares during the last quarter. Creative Planning increased its stake in NI by 14.8% during the 3rd quarter. Creative Planning now owns 15,533 shares of the company’s stock worth $244,000 after buying an additional 2,000 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of NI by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 23,787 shares of the company’s stock valued at $364,000 after acquiring an additional 1,246 shares during the last quarter. Barclays PLC lifted its position in shares of NI by 44.0% in the third quarter. Barclays PLC now owns 24,687 shares of the company’s stock valued at $387,000 after acquiring an additional 7,549 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of NI by 2.2% in the second quarter. Renaissance Technologies LLC now owns 59,991 shares of the company’s stock worth $918,000 after acquiring an additional 1,300 shares during the last quarter. 21.89% of the stock is owned by hedge funds and other institutional investors.

NI Company Profile

NI Holdings, Inc underwrites property and casualty insurance products in the United States. Its products include private passenger auto, non-standard automobile, homeowners, farm owners, crop hail and multi-peril crop, and liability insurance policies. The company was founded in 1946 and is headquartered in Fargo, North Dakota.