Arch Capital Group (NASDAQ:ACGLN) Shares Down 1% – Here’s Why

Arch Capital Group Ltd. (NASDAQ:ACGLN)’s stock price was down 1% during trading on Wednesday . The company traded as low as $15.84 and last traded at $15.86. Approximately 21,606 shares changed hands during trading, a decline of 52% from the average session volume of 44,552 shares. The stock had previously closed at $16.02.

Arch Capital Group Trading Down 1.0%

The company’s 50-day simple moving average is $16.47 and its two-hundred day simple moving average is $16.95.

Arch Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.2844 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Tuesday, September 15th.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Arch Capital Group stock. GAMMA Investing LLC lifted its position in Arch Capital Group Ltd. (NASDAQ:ACGLN) by 12,890.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,897 shares of the company’s stock after acquiring an additional 3,867 shares during the period. GAMMA Investing LLC’s holdings in Arch Capital Group were worth $64,000 as of its most recent SEC filing.

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.