Protective Insurance Corp (NASDAQ:PTVCA) Sees Significant Increase in Short Interest
Protective Insurance Corp (NASDAQ:PTVCA) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,100 shares, a growth of 22.2% from the September 30th total of 900 shares. Based on an average trading volume of 1,200 shares, the short-interest ratio is presently 0.9 days. Approximately 0.1% of the shares of the stock are sold short.
Several large investors have recently made changes to their positions in PTVCA. Capital Returns Management LLC lifted its holdings in shares of Protective Insurance by 0.4% in the second quarter. Capital Returns Management LLC now owns 224,302 shares of the company’s stock valued at $3,896,000 after purchasing an additional 911 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Protective Insurance by 10.7% in the second quarter. Wells Fargo & Company MN now owns 141,289 shares of the company’s stock valued at $2,331,000 after purchasing an additional 13,712 shares in the last quarter. Finally, Arbiter Partners Capital Management LLC lifted its holdings in shares of Protective Insurance by 30.1% in the second quarter. Arbiter Partners Capital Management LLC now owns 97,037 shares of the company’s stock valued at $1,601,000 after purchasing an additional 22,425 shares in the last quarter. Institutional investors own 4.12% of the company’s stock.
Shares of NASDAQ:PTVCA traded up $0.10 on Thursday, reaching $15.00. 300 shares of the company traded hands, compared to its average volume of 1,818. Protective Insurance has a fifty-two week low of $14.75 and a fifty-two week high of $22.75. The company’s 50 day moving average is $15.40 and its 200-day moving average is $16.07.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.67%.
Protective Insurance Company Profile
Protective Insurance Corporation, through its subsidiaries, engages in marketing and underwriting property and casualty insurance products. The company offers a range of fleet transportation insurance products, including commercial motor vehicle liability, physical damage, and general liability insurance; workers compensation insurance; medical and indemnity insurance products; non-trucking motor vehicle liability insurance; fidelity and surety bonds; and inland marine products consisting of cargo insurance.
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