At the close of trading on Thursday June 23, 2022, a total volume of 40.13m units of shares of Mutual Benefits Assurance Plc valued at N10.03m were traded.

This represents 17.98% of the total market volumes of 223.25m while the value of MBENEFIT shares traded represents 0.35% of the total market value traded which was put at N2.86bn.

Furthermore, the volume traded represents 0.20% of MBENEFIT’s total shares outstanding put at 20.06bn shares while the value of the shares traded also represents 0.20% of MBENEFIT market capitalization of N5.02bn as of June 23, 2022. 

A comparison of MBENEFIT’s volume traded with the previous day traded volume revealed that it increased by +40820% from 98,071 to 40.13m units traded.

The share price of  MBENEFIT  closed flat at N0.25k at the close of trading.

Year-to-date, MBENEFIT shares have dipped by -24.24% as against +20.84% YTD return recorded by the NGXASI, underperforming the broad market index by -45.08%.

The huge volume traded today may represent strategic positioning in the insurance firm by a significant investor.

Chart: 8 Days Share Price and Volume Movement

Source: NGX, Proshare Research