Midas Securities Group, Inc., an affiliate of the registered investment adviser for BEXIL INVESTMENT TRUST (NYSE:BXSY), has recently made significant purchases of the company's shares. According to the latest filings, Midas Securities Group acquired a total of 17,013 shares in two separate transactions, valued at approximately $225,870.
The first purchase, consisting of 1,013 shares, was executed at a price of $13.0603 per share. This was followed by a larger transaction the next day, where 16,000 shares were bought at a price of $13.29 each. These transactions have brought Midas Securities Group's total holdings in BEXIL INVESTMENT TRUST to 62,252 shares of beneficial interest.
The purchases indicate a continued interest and a growing stake by Midas Securities Group in the investment trust. Investors often keep a close watch on such filings to gauge insider sentiment and potential future performance of the company’s stock.
Russell Kamerman, representing Midas Securities Group, Inc., confirmed the transactions on May 31, 2024, as per the documentation filed with the regulators. The recent acquisitions by Midas Securities Group provide a clear signal of its commitment to BEXIL INVESTMENT TRUST as part of its investment strategy.
InvestingPro Insights
Amid the recent insider transactions by Midas Securities Group, Inc., it's noteworthy to observe the financial performance of BEXIL INVESTMENT TRUST (NYSE:BXSY). The company has experienced a revenue contraction, with the latest data revealing a decrease of 15.59% in revenue growth for the last twelve months as of Q4 2023. This downward trend is also reflected in the quarterly revenue growth, which saw a similar decline of 15.71% for Q4 2023.
Despite the revenue decline, BEXIL INVESTMENT TRUST maintained a gross profit margin of 100% over the same period, indicating that the company has been able to keep its cost of goods sold at bay relative to its revenue. Additionally, the company's operating income, adjusted for the last twelve months as of Q4 2023, stands at 2.53M USD, alongside an identical figure for EBIT.
For income-focused investors, BEXIL INVESTMENT TRUST's dividend yield is particularly attractive, standing at 7.56% as of the latest data. The ex-date of the last dividend was March 14, 2024, which may influence the investment decisions of dividend-seeking shareholders.
When it comes to stock performance, the company has seen a 1 Year Price Total Return of 34.15%, highlighting a strong annual growth in the share price, which could be a positive signal for investors considering the company's stock. In the shorter term, the 1 Month Price Total Return shows an increase of 9.34%, suggesting recent bullish behavior in the market.
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