Protective Insurance Corp (NASDAQ:PTVCB) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 69,000 shares, a growth of 58.3% from the May 15th total of 43,600 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average trading volume of 29,600 shares, the short-interest ratio is presently 2.3 days.
A number of institutional investors and hedge funds have recently modified their holdings of PTVCB. O Shaughnessy Asset Management LLC raised its stake in Protective Insurance by 56.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,588 shares of the company’s stock worth $110,000 after buying an additional 2,369 shares during the period. Rhumbline Advisers grew its holdings in Protective Insurance by 41.6% during the fourth quarter. Rhumbline Advisers now owns 13,488 shares of the company’s stock valued at $225,000 after purchasing an additional 3,962 shares during the period. Prudential Financial Inc. grew its holdings in Protective Insurance by 3.8% during the fourth quarter. Prudential Financial Inc. now owns 14,662 shares of the company’s stock valued at $244,000 after purchasing an additional 543 shares during the period. Bessemer Group Inc. grew its holdings in Protective Insurance by 2.9% during the fourth quarter. Bessemer Group Inc. now owns 17,800 shares of the company’s stock valued at $296,000 after purchasing an additional 500 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Protective Insurance by 17.9% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,311 shares of the company’s stock worth $338,000 after acquiring an additional 3,080 shares during the period. 48.16% of the stock is owned by institutional investors and hedge funds.
NASDAQ PTVCB traded down $0.28 during midday trading on Friday, hitting $16.43. The company had a trading volume of 24,061 shares, compared to its average volume of 27,301. Protective Insurance has a twelve month low of $15.81 and a twelve month high of $25.00. The business has a 50-day moving average of $17.45.
About Protective Insurance
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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