In a recent transaction, Midas Securities Group, Inc. has increased its holdings in Bexil Investment Trust (NYSE:BXSY), purchasing shares valued at approximately $149,228. The acquisition, which took place over two days, saw the investment firm buy shares at prices ranging from $13.21 to $13.25.
On May 23, 2024, Midas Securities Group acquired 11,076 shares at $13.21 each, and the following day, the firm added another 220 shares to its portfolio at a slightly higher price of $13.25 per share. These transactions have raised Midas Securities Group's total ownership in Bexil Investment Trust to 40,777 shares.
The move by Midas Securities Group, an affiliate of the registered investment adviser for Bexil Investment Trust, signifies a bolstering of its position in the company. The disclosure of these transactions, as per regulatory requirements, provides investors with insight into the firm's increasing stake in the trust.
Russell Kamerman, representing Midas Securities Group, confirmed the transactions with a signature on May 24, 2024. The details of these purchases offer a glimpse into the investment strategies and decisions within Midas Securities Group, particularly concerning their confidence in Bexil Investment Trust.
InvestingPro Insights
The recent acquisition by Midas Securities Group is a testament to their confidence in Bexil Investment Trust (NYSE:BXSY), and a look at the company's financial health through InvestingPro data can offer further insights. Bexil's revenue for the last twelve months as of Q4 2023 stands at $5.59 million, which, while substantial, marks a decline of 15.59% in revenue growth during the same period. Despite this decrease, the company's gross profit margin remains robust at 100%, reflecting its ability to maintain profitability.
Investors may find Bexil's dividend yield particularly attractive; as of the 145th day of 2024, the yield is 7.58%, coupled with an ex-date for the last dividend recorded on March 14, 2024. This could indicate a potential for steady income streams for dividend-focused investors. Additionally, the company's share performance has been positive, with a year-to-date price total return of 10.6% and a notable 1-year price total return of 34.47%.
For those looking to delve deeper into Bexil Investment Trust's financials and performance, InvestingPro offers additional insights. Subscribers can access a suite of InvestingPro Tips to guide their investment decisions. There are currently 15 more tips available on InvestingPro that could be beneficial for understanding Bexil's market position and future potential. To gain access to these valuable tips, use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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