In a recent transaction on July 1, Winmill & Co. Inc, an affiliate of the registered investment adviser, made a notable purchase of shares in Bexil Investment Trust (NYSE:BXSY). The transaction involved the acquisition of 6,934 shares at a price of $12.52 per share, amounting to a total investment of approximately $86,813.
The purchase was disclosed in a filing with the Securities and Exchange Commission, which provides public transparency of the trading activities of company insiders and affiliates. Winmill & Co. Inc's position in Bexil Investment Trust following the transaction stands at 6,934 shares.
The transaction indicates a potential confidence by Winmill & Co. Inc in the future performance of Bexil Investment Trust, although it should be noted that such transactions are not uncommon and can be motivated by a variety of factors. Investors often monitor insider purchases as they may provide insights into the company's prospects as seen by those closest to its operations.
The filing was signed by Russell Kamerman, acting on behalf of Winmill & Co. Incorporated, and was submitted on July 2, the day following the transaction.
Bexil Investment Trust, represented by the ticker BXSY, is a company that operates within the financial sector, though its specific classification within the industry is not disclosed. The company shares a business address with Winmill & Co. Inc in Rochester, New York.
Investors and market watchers may keep an eye on further filings to gauge whether insiders continue to buy or sell shares, which could indicate their ongoing assessment of the company's value and prospects.
InvestingPro Insights
Bexil Investment Trust (NYSE:BXSY) has recently seen notable insider activity with Winmill & Co. Inc's acquisition of shares, suggesting a vote of confidence in the company's trajectory. According to InvestingPro, Bexil's revenue in the last twelve months as of Q4 2023 stood at $5.59 million. Despite a challenging period that saw a revenue decline of -15.59% during the same timeframe, the company's gross profit margin impressively remained at 100%, indicating that it was able to maintain the cost of goods sold at a minimal level relative to its revenue.
Furthermore, Bexil's adjusted operating income for the last twelve months as of Q4 2023 was reported at $2.53 million, with both basic and diluted earnings per share (EPS) for continuing operations standing at $3.35. This level of profitability, combined with a robust dividend yield of 8.0% as of mid-2024, may offer an attractive proposition for income-focused investors.
The company's stock has experienced a 20.32% total return over the past year, reflecting a positive market sentiment. In the short term, the one-week price total return has been modest at 0.85%, yet the six-month return has been more significant at 8.66%. These metrics, along with a relatively low average daily volume of 0.03 million USD, may appeal to investors looking for steady performance with lower volatility.
For those interested in delving deeper into Bexil Investment Trust's financial health and future prospects, InvestingPro provides additional insights. There are more InvestingPro Tips available on the platform, which can be accessed with a special discount using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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