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PhenixFIN (NYSE:PFX) Stock Passes Below Fifty Day Moving Average - What's Next?

PhenixFIN logo with Finance background

PhenixFIN Co. (NYSE:PFX - Get Free Report)'s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $49.73 and traded as low as $49.01. PhenixFIN shares last traded at $49.87, with a volume of 1,098 shares changing hands.

PhenixFIN Stock Down 1.1%

The firm has a 50 day moving average price of $49.74 and a two-hundred day moving average price of $50.55. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $99.84 million, a price-to-earnings ratio of 6.06 and a beta of 0.32.

Insider Buying and Selling

In other news, CEO David A. Lorber purchased 700 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $47.91 per share, for a total transaction of $33,537.00. Following the completion of the purchase, the chief executive officer owned 142,845 shares of the company's stock, valued at approximately $6,843,703.95. This trade represents a 0.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 24.40% of the company's stock.

Hedge Funds Weigh In On PhenixFIN

A number of hedge funds have recently bought and sold shares of PFX. Crossingbridge Advisors LLC acquired a new position in PhenixFIN in the fourth quarter valued at approximately $507,000. Bulldog Investors LLP acquired a new position in PhenixFIN in the fourth quarter valued at approximately $973,000. Raymond James Financial Inc. acquired a new position in PhenixFIN in the fourth quarter valued at approximately $992,000. Finally, Adalta Capital Management LLC boosted its stake in PhenixFIN by 4.0% in the fourth quarter. Adalta Capital Management LLC now owns 155,524 shares of the company's stock valued at $7,777,000 after acquiring an additional 5,921 shares during the period. 43.35% of the stock is currently owned by institutional investors and hedge funds.

PhenixFIN Company Profile

(Get Free Report)

PhenixFIN Corporation is a business development company. The firm seeks to invest in privately negotiated debt and equity securities of small and middle market companies. It primarily invests in the following sectors: business services; buildings and real estate; automobile; oil and gas; aerospace and defense; home and office furnishings, housewares, and durable consumer products; healthcare, education and childcare; personal, food, and miscellaneous services; retail stores, diversified or conglomerate manufacturing; telecommunications; mining, steel, iron, and non-precious metals; leisure, amusement, motion pictures, and entertainment; chemicals, plastics, and rubber; finance; personal and nondurable consumer products (manufacturing only); beverage, food, and tobacco; containers, packaging, and glass; structure finance securities; machinery (non-agriculture, non-construction, non-electric); diversified or conglomerate service; restaurant and franchise; electronics; and cargo transport.

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