Short Interest in Beneficient (NASDAQ:BENF) Increases By 193.2%

Beneficient (NASDAQ:BENF) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 319,300 shares, an increase of 193.2% from the November 15th total of 108,900 shares. Based on an average daily trading volume, of 3,740,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 8.7% of the shares of the stock are short sold.

Insider Activity at Beneficient

In other news, Director Peter T. Cangany, Jr. acquired 75,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were bought at an average cost of $0.93 per share, for a total transaction of $69,750.00. Following the acquisition, the director now directly owns 300,000 shares in the company, valued at $279,000. This trade represents a 33.33 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Gwg Wind Down Trust sold 188,292 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $1.79, for a total transaction of $337,042.68. Following the completion of the transaction, the insider now owns 348,183 shares of the company’s stock, valued at $623,247.57. This trade represents a 35.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,034 shares of company stock worth $346,446 over the last three months. 13.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Beneficient

An institutional investor recently bought a new position in Beneficient stock. State Street Corp bought a new stake in shares of 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 approximately 1.40% of Beneficient as of its most recent SEC filing. 90.57% of the stock is owned by institutional investors and hedge funds.

Beneficient Price Performance

Shares of BENF opened at $0.81 on Friday. The firm has a fifty day moving average of $1.15 and a 200-day moving average of $2.06. Beneficient has a 1 year low of $0.72 and a 1 year high of $47.94.

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.