Destiny Tech100 Inc. (NYSE:DXYZ) Sees Large Growth in Short Interest

Key Points

• Short interest jumped 27.3% to 2,266,814 shares as of March 13, representing about 20.8% sold short and a days-to-cover ratio of 3.7 based on average daily volume.
• Several institutional investors increased or opened positions in Destiny Tech100, including AA Financial Advisors (new $2.144M stake), Osaic Holdings (+38% to 42,176 shares), Cetera (new $1.021M stake), UBS (+45.3%), and CIBC (new ~$468K position).
• The stock fell 4.1% to $26.87 on Monday with volume of 966,990 versus its average, and trades within a one-year range of $19.71–$50.50 (50-day MA $28.75, 200-day MA $27.55).

Destiny Tech100 Inc. (NYSE:DXYZ - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 13th, there was short interest totaling 2,266,814 shares, a growth of 27.3% from the February 26th total of 1,780,589 shares. Based on an average daily volume of 620,383 shares, the days-to-cover ratio is currently 3.7 days. Approximately 20.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On Destiny Tech100

Several institutional investors have recently added to or reduced their stakes in the company. AA Financial Advisors LLC bought a new stake in shares of Destiny Tech100 during the fourth quarter worth $2,144,000. Osaic Holdings Inc. lifted its holdings in Destiny Tech100 by 38.0% during the 4th quarter. Osaic Holdings Inc. now owns 42,176 shares of the company's stock valued at $1,292,000 after buying an additional 11,607 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Destiny Tech100 in the 4th quarter valued at about $1,021,000. UBS Group AG grew its stake in Destiny Tech100 by 45.3% in the 3rd quarter. UBS Group AG now owns 29,639 shares of the company's stock worth $631,000 after acquiring an additional 9,241 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in Destiny Tech100 in the 4th quarter worth about $468,000.

Destiny Tech100 Stock Down 4.1%

NYSE DXYZ traded down $1.16 during trading hours on Monday, reaching $26.87. The company's stock had a trading volume of 966,990 shares, compared to its average volume of 1,446,864. Destiny Tech100 has a 1 year low of $19.71 and a 1 year high of $50.50. The firm's 50-day moving average price is $28.75 and its 200-day moving average price is $27.55.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.