Short Interest in Kingsway Financial Services Inc (NYSE:KFS) Decreases By 40.5%
Kingsway Financial Services Inc (NYSE:KFS) (TSE:KFS) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 17,500 shares, a decline of 40.5% from the May 30th total of 29,400 shares. Based on an average daily volume of 29,200 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the shares of the stock are sold short.
Shares of KFS traded down $0.04 during mid-day trading on Friday, reaching $2.65. The company’s stock had a trading volume of 8,341 shares, compared to its average volume of 56,169. Kingsway Financial Services has a 52 week low of $1.82 and a 52 week high of $3.55. The stock’s fifty day moving average price is $2.52.
A number of hedge funds have recently made changes to their positions in KFS. Dimensional Fund Advisors LP bought a new position in Kingsway Financial Services during the 4th quarter valued at about $626,000. LSV Asset Management purchased a new stake in Kingsway Financial Services during the 1st quarter valued at approximately $196,000. Finally, Actinver Wealth Management Inc. purchased a new stake in Kingsway Financial Services during the 4th quarter valued at approximately $233,000. 27.98% of the stock is currently owned by institutional investors.
Kingsway Financial Services Inc, through its subsidiaries, provides property and casualty insurance products in the United States. The company operates through three segments: Insurance Underwriting, Extended Warranty, and Leased Real Estate. The Insurance Underwriting segment offers various automobile insurance products, including liability insurance that covers claims against its insured's responsible for automobile accidents; accident benefit policies or personal injury protection policies that provide coverage for loss of income, medical, and rehabilitation expenses for insured persons who are injured in an automobile accident; and physical damage policies, which cover damages to an insured automobile arising from a collision with another object, as well as from other risks, such as fire or theft.
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