Midas Securities Group, Inc. has recently made a significant purchase of shares in Bexil Investment Trust (NYSE:BXSY). The transactions, which were carried out over two days, saw the acquisition of a total of 12,981 shares of Beneficial Interest in the trust, amounting to $170,883.
On May 17, 2024, Midas Securities Group bought 10,365 shares at a price of $13.15 each. Following up on this investment, the firm acquired an additional 2,616 shares on May 20, 2024, at a slightly higher price of $13.22 per share. These purchases indicate a strong buying signal from the firm, reflecting a price range of $13.15 to $13.22 for the shares purchased over the period.
It's noteworthy that Midas Securities Group is affiliated with the registered investment adviser of Bexil Investment Trust. This relationship was highlighted in the remarks section of the SEC filing and suggests an insider perspective on the trust's potential.
Russell Kamerman, on behalf of Midas Securities Group, Inc., signed off on the filing on May 20, 2024. The disclosed transactions reflect the firm's direct ownership of the acquired shares and represent a notable change in their investment portfolio.
Investors and market watchers often look to such transactions for insights into how institutions perceive the value and future prospects of the companies in which they invest. The recent purchases by Midas Securities Group in Bexil Investment Trust may prompt a closer analysis of the trust's performance and potential by the investment community.
InvestingPro Insights
In light of Midas Securities Group's recent share purchases in Bexil Investment Trust (NYSE:BXSY), a closer look at the trust's financials through InvestingPro reveals some noteworthy data. Despite a challenging period, Bexil Investment Trust has maintained a Gross Profit Margin of 100% in the last twelve months as of Q4 2023, with Gross Profit standing at $5.59M USD. This indicates that the trust has been able to effectively manage its cost of goods sold and maintain profitability.
The trust's dividend yield as of April 2024 stands at 7.61%, coupled with a solid year-to-date price total return of 10.1%. This suggests that Bexil Investment Trust could be an attractive option for income-seeking investors. Additionally, the trust has experienced a 1-year price total return of 31.4%, reflecting strong market confidence and the potential for capital gains.
InvestingPro Tips highlight that while revenue has seen a decline of -15.59% in the last twelve months as of Q4 2023, the trust's share price performance has been positive over multiple time frames, including a 6-month price total return of 25.53%. Investors interested in further analysis and additional insights can find more tips on InvestingPro. There are currently 7 more tips available, which can provide deeper context into Bexil Investment Trust's financial health and future prospects.
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