Arch Capital Group Ltd. (NASDAQ:ACGLN) Short Interest Up 114.5% in May

Arch Capital Group Ltd. (NASDAQ:ACGLN – Get Rating) benefited from significant growth in short-term interest in May. As of May 31, there were short interests totaling 14,800 shares, a growth of 114.5% from the total of 6,900 shares as of May 15. Based on an average daily volume of 60,200 shares, the day-to-cover ratio is currently 0.2 days.

In other Arch Capital Group news, CEO Maamoun Rajeh sold 12,237 shares of the company in a trade on Tuesday, June 7. The stock was sold at an average price of $47.06, for a total transaction of $575,873.22. As a result of the transaction, the CEO now owns 412,990 shares of the company, valued at $19,435,309.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Additionally, manager Brian S. Posner acquired 2,000 shares in a trade on Friday, April 29. The shares were purchased at an average cost of $19.23 per share, for a total transaction of $38,460.00. Following the purchase, the director now directly owns 2,000 shares of the company, valued at approximately $38,460. Disclosure of this purchase can be found here.

A hedge fund recently increased its stake in shares of Arch Capital Group. PNC Financial Services Group Inc. increased its holdings in Arch Capital Group Ltd. (NASDAQ: ACGLN – Get Rating) by 273.6% in Q1, according to the company in its latest 13F filing with the Securities & Exchange Commission. The fund held 3,646 shares of the company after purchasing an additional 2,670 shares during the period. PNC Financial Services Group Inc.’s holdings in Arch Capital Group were worth $77,000 when it last filed with the Securities & Exchange Commission.

The NASDAQ ACGLN opened at $20.03 on Friday. The stock’s fifty-day moving average is $19.35. Arch Capital Group has a fifty-two week low of $17.96 and a fifty-two week high of $26.76.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Thursday, September 15 will receive a dividend of $0.2844. This represents an annualized dividend of $1.14 and a dividend yield of 5.68%. The ex-dividend date is Wednesday, September 14.

About Arch Capital Group (Get a rating)

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance and mortgage insurance products worldwide. The Company’s Insurance segment provides primary and excess liability insurance coverages; loss-sensitive primary casualty insurance programs; collateral protection, debt cancellation and service contract repayment products; directors’ and officers’ liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity and other financial coverage; professional medical and general liability insurance coverage; and workers’ compensation and general liability, as well as commercial automotive and inland marine products.

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