Beneficient (NASDAQ:BENF) Shares Down 7.2% – Here’s What Happened

Beneficient (NASDAQ:BENF)’s stock price traded down 7.2% during trading on Wednesday . The company traded as low as $0.61 and last traded at $0.64. 315,801 shares changed hands during trading, an increase of 52% from the average session volume of 208,310 shares. The stock had previously closed at $0.69.

Beneficient Trading Down 7.2 %

The business has a fifty day simple moving average of $0.70 and a 200 day simple moving average of $1.26.

Insider Buying and Selling at Beneficient

In related news, Director Peter T. Cangany, Jr. bought 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $0.93 per share, with a total value of $69,750.00. Following the completion of the transaction, the director now owns 300,000 shares of the company’s stock, valued at approximately $279,000. The trade was a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 20,186 shares of company stock worth $15,780. 13.69% of the stock is owned by insiders.

Institutional Investors Weigh In On Beneficient

Institutional investors have recently bought and sold shares of the stock. Ausdal Financial Partners Inc. grew its stake in 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 buying an additional 43,217 shares during the period. Virtu Financial LLC bought a new stake in shares of Beneficient in the 4th quarter valued at approximately $28,000. State Street Corp acquired a new position in Beneficient during the 3rd quarter valued at approximately $73,000. Finally, Stifel Financial Corp boosted its position in Beneficient by 138.2% during the 3rd quarter. Stifel Financial Corp now owns 24,300 shares of the company’s stock valued at $30,000 after purchasing an additional 14,100 shares during the period. 90.57% of the stock is currently owned by hedge funds and other institutional investors.

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.