In a recent move, Midas Securities Group, Inc. has increased its stake in Bexil Investment Trust (UNKNOWN:BEXIL), as indicated by the latest filings with the Securities and Exchange Commission. The transactions, which took place on May 28 and May 29, 2024, involved the purchase of a total of 4,462 shares of beneficial interest at prices ranging from $13.04 to $13.29 per share, amounting to over $58,684.
The first transaction on May 28 saw Midas Securities Group acquiring 2,000 shares at $13.29 each. The following day, the firm added another 2,462 shares to its holdings, this time at a slightly lower price of $13.04 per share. These purchases have bolstered the firm's position in Bexil Investment Trust, bringing its total number of shares owned to 45,239.
Midas Securities Group's recent acquisition is part of its investment activities in the trust, which is managed by an affiliate of the registered investment adviser of the issuer. The firm's involvement with Bexil Investment Trust is indicative of its interest and confidence in the trust's performance and prospects.
Investors and market watchers often keep a close eye on such transactions as they can provide insights into the strategies and expectations of significant shareholders and investment firms. The disclosure of these purchases serves as a transparent record of Midas Securities Group's investment moves and its continued affiliation with Bexil Investment Trust.
InvestingPro Insights
As Midas Securities Group increases its holdings in Bexil Investment Trust, a closer look at the company's financial metrics reveals a mixed picture. The trust has experienced a decline in revenue over the last twelve months as of Q4 2023, with a notable -15.59% decrease. This contraction is also reflected in the quarterly revenue growth, which shows a similar downtrend of -15.71% for Q4 2023. Despite these challenges, Bexil Investment Trust maintains a strong gross profit margin at 100%, indicating that it has managed to keep costs in line with its revenue.
The trust's operating income, adjusted for the same period, stands at $2.53M, which aligns with its earnings before interest and taxes (EBIT). This suggests effective operational management, as evidenced by a healthy basic and diluted earnings per share (EPS) for continuing operations, both reported at $3.35. Moreover, the trust's dividend yield remains attractive at 7.55%, with the last dividend ex-date recorded on March 14, 2024.
From an investment perspective, Bexil Investment Trust's share price has shown resilience with positive returns across various time frames, including a 32.75% one-year price total return, which could be indicative of underlying value despite revenue setbacks. The average daily trading volume over the last three months stands at 0.03M USD, suggesting a level of liquidity that may be suitable for certain investors.
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