Arch Capital Group Ltd. (NASDAQ:ACGLN – Get Free Report) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 55,775 shares, a drop of 17.0% from the February 26th total of 67,223 shares. Based on an average daily volume of 32,329 shares, the days-to-cover ratio is presently 1.7 days.
Arch Capital Group Stock Performance
ACGLN opened at $16.43 on Wednesday. The company’s fifty day moving average price is $17.36 and its two-hundred day moving average price is $17.42. Arch Capital Group has a 1-year low of $16.30 and a 1-year high of $18.34.
Arch Capital Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Sunday, March 15th were given a dividend of $0.2844 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.14 annualized dividend and a dividend yield of 6.9%.
About Arch Capital Group
Arch Capital Group Ltd is a Bermuda-based financial services company that provides insurance, reinsurance and mortgage insurance products through its subsidiaries. The company underwrites a broad array of property and casualty insurance, specialty insurance, and reinsurance business, designing customized solutions for clients across commercial, personal and specialty markets. Arch’s offerings include commercial casualty and property, directors and officers liability, professional liability, surety, and mortgage insurance products.
In its reinsurance segment, Arch writes treaty and facultative business lines, encompassing property catastrophe, casualty and specialty risks.
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