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ALERT: 0.20% of MBENEFIT’s Outstanding Shares Traded on NGX on 230622

Jun 23, 2022   •   by   •   Source: Proshare   •   eye-icon 448 views

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

 

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