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

Beneficient (NASDAQ:BENF) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 155,100 shares, an increase of 32.7% from the January 15th total of 116,900 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average trading volume of 2,060,000 shares, the days-to-cover ratio is presently 0.1 days.

Beneficient Trading Up 0.1 %

NASDAQ:BENF traded up $0.00 during midday trading on Friday, reaching $0.56. The company had a trading volume of 112,463 shares, compared to its average volume of 119,744. Beneficient has a 12-month low of $0.50 and a 12-month high of $23.64. The stock’s fifty day simple moving average is $0.68 and its 200-day simple moving average is $1.22.

Insiders Place Their Bets

In other news, Director Peter T. Cangany, Jr. purchased 75,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average cost 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 represents a 33.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 21,071 shares of company stock valued at $16,338 over the last quarter. 13.69% of the stock is owned by insiders.

Institutional Trading of Beneficient

A number of hedge funds and other institutional investors have recently made changes to their positions in BENF. Virtu Financial LLC acquired a new stake in shares of Beneficient during the fourth quarter worth about $28,000. Stifel Financial Corp increased its position in shares of Beneficient by 138.2% during the third quarter. Stifel Financial Corp now owns 24,300 shares of the company’s stock worth $30,000 after purchasing an additional 14,100 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Beneficient during the fourth quarter worth about $39,000. Ausdal Financial Partners Inc. increased its position in shares of Beneficient by 214.3% during the fourth quarter. Ausdal Financial Partners Inc. now owns 63,379 shares of the company’s stock worth $47,000 after purchasing an additional 43,217 shares in the last quarter. Finally, State Street Corp acquired a new stake in shares of Beneficient during the third quarter worth about $73,000. Institutional investors and hedge funds own 90.57% of the company’s stock.

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.