PenderFund Capital Management Ltd. bought a new position in shares of Midwest Holding Inc. (NASDAQ:MDWT – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 24,558 shares of the company’s stock, valued at approximately $871,000. PenderFund Capital Management Ltd. owned 0.66% of Midwest at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in MDWT. Raymond James & Associates increased its holdings in Midwest by 144.9% in the 1st quarter. Raymond James & Associates now owns 100,934 shares of the company’s stock valued at $1,691,000 after purchasing an additional 59,715 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Midwest in the 3rd quarter valued at $158,000. Finally, LPL Financial LLC acquired a new position in Midwest during the 2nd quarter worth about $1,021,000. 54.94% of the stock is currently owned by institutional investors and hedge funds.
Midwest Trading Down 0.0 %
NASDAQ MDWT traded down $0.01 during trading on Tuesday, hitting $26.24. The stock had a trading volume of 5,840 shares, compared to its average volume of 9,577. The company has a quick ratio of 0.14, a current ratio of 0.12 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $98.27 million, a PE ratio of -10.50 and a beta of 0.52. The firm has a 50 day moving average price of $26.19 and a 200 day moving average price of $26.21. Midwest Holding Inc. has a twelve month low of $12.32 and a twelve month high of $27.50.
Midwest Holding Inc, a financial services company, engages in life and annuity insurance business in the United States. The company offers multi-year guaranteed and fixed indexed annuity products through independent distributors comprising independent marketing organizations. It also provides asset management services to third-party insurers and reinsurers; and product development, distribution support, policy administration, and asset/liability management services.
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