Short Interest in Arch Capital Group Ltd. (NASDAQ:ACGLN) Decreases By 68.5%

Posted by Alphonse Anthony on Apr 12th, 2024

Arch Capital Group Ltd. (NASDAQ:ACGLN – Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 7,800 shares, a decline of 68.5% from the March 15th total of 24,800 shares. Based on an average daily volume of 30,700 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Arch Capital Group

A hedge fund recently raised its stake in Arch Capital Group stock. PNC Financial Services Group Inc. boosted its stake in Arch Capital Group Ltd. (NASDAQ:ACGLN – Free Report) by 273.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,646 shares of the company’s stock after acquiring an additional 2,670 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Arch Capital Group were worth $77,000 at the end of the most recent reporting period.

Arch Capital Group Stock Down 1.3 %

NASDAQ ACGLN opened at $20.07 on Friday. Arch Capital Group has a 12 month low of $16.49 and a 12 month high of $21.21. The company has a 50-day moving average of $20.51 and a 200-day moving average of $19.48.

Arch Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were issued a dividend of $0.2844 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 5.67%. This is a boost from Arch Capital Group’s previous quarterly dividend of $0.28.

About Arch Capital Group

(Get Free Report)

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.