Key Points
- CEO Mike John Dinsdale bought 8,726 Powerlaw shares at an average price of $11.46, investing approximately $100,000 and increasing his ownership by 1.27% to 695,230 shares.
- Powerlaw shares opened at $11.05, with a 52-week range of $9.40 to $40.00 and a 50-day moving average of $11.30.
- The company announced a monthly dividend of $0.0812 per share, equivalent to about $0.97 annually and an 8.8% yield; several institutional investors also recently established positions.
Powerlaw Corp (NASDAQ:PWRL - Get Free Report) CEO Mike Dinsdale bought 8,726 shares of Powerlaw stock in a transaction on Wednesday, September 23rd. The shares were acquired at an average price of $11.46 per share, for a total transaction of $99,999.96. Following the completion of the acquisition, the chief executive officer owned 695,230 shares in the company, valued at $7,967,335.80. This represents a 1.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Powerlaw Price Performance
Shares of PWRL stock opened at $11.05 on Friday. The firm has a 50 day simple moving average of $11.30. Powerlaw Corp has a 52 week low of $9.40 and a 52 week high of $40.00.
Powerlaw Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Investors of record on Monday, December 21st will be issued a $0.0812 dividend. The ex-dividend date is Monday, December 21st. This represents a $0.97 dividend on an annualized basis and a yield of 8.8%.
Institutional Investors Weigh In On Powerlaw
Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE acquired a new stake in Powerlaw in the 2nd quarter valued at about $1,718,000. Resolute Advisors LLC acquired a new position in shares of Powerlaw during the second quarter worth about $869,000. HighTower Advisors LLC purchased a new stake in shares of Powerlaw during the second quarter worth approximately $431,000. Finally, Ieq Capital LLC acquired a new stake in Powerlaw in the second quarter valued at approximately $232,000.
About Powerlaw
(
Get Free Report)
Powerlaw Corp. is a venture capital fund specializing in directly investing. It prefers investing in growth capital and late stage. The fund prefers to invest in private technology companies, technology: artificial intelligence, next-generation software, modern aerospace and defense, and leading consumer technology platforms and enterprise SaaS sectors.
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