Pershing Square Inc. (NYSE:PS – Get Free Report) saw a large increase in short interest in April. As of April 30th, there was short interest totaling 549,528 shares, an increase of ∞ from the April 15th total of 0 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 513,090 shares, the days-to-cover ratio is currently 1.1 days.
Pershing Square Stock Performance
Shares of NYSE PS traded down $2.95 during mid-day trading on Monday, reaching $38.22. 501,606 shares of the company traded hands, compared to its average volume of 1,125,508. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of -32.95 and a beta of 2.27. Pershing Square has a fifty-two week low of $22.01 and a fifty-two week high of $54.94.
Insider Activity at Pershing Square
In related news, CEO William A. Ackman acquired 800,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were acquired at an average price of $23.77 per share, with a total value of $19,016,000.00. Following the acquisition, the chief executive officer owned 1,500,000 shares in the company, valued at approximately $35,655,000. The trade was a 114.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 21.79% of the company’s stock.
About Pershing Square
Pershing Square (NYSE: PS) is a publicly traded investment holding company managed by Pershing Square Capital Management, L.P., the investment firm founded and led by William “Bill” Ackman. The vehicle provides outside investors with exposure to the firm’s concentrated, actively managed investment program and is designed to deliver long‑term capital appreciation through a portfolio of equity and related positions.
The company’s principal activities center on investing in publicly traded companies, typically through concentrated long equity positions and selectively using derivatives or other instruments for hedging or to implement investment views.
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