Powerlaw (NASDAQ:PWRL) Stock: Insider Mike John Dinsdale Buys 8,726 Shares

Powerlaw Corp (NASDAQ:PWRL) CEO Mike Dinsdale purchased 8,726 shares of Powerlaw stock in a transaction dated Wednesday, September 23rd. The shares were purchased at an average price of $11.46 per share, with a total value 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. The trade was a 1.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Powerlaw Trading Down 3.2%

Shares of PWRL stock traded down $0.36 on Thursday, hitting $11.05. The company’s stock had a trading volume of 143,855 shares, compared to its average volume of 207,126. Powerlaw Corp has a fifty-two week low of $9.40 and a fifty-two week high of $40.00. The firm’s fifty day moving average price is $11.30.

Powerlaw Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Monday, December 21st will be issued a dividend of $0.0812 per share. This represents a $0.97 annualized dividend and a yield of 8.8%. The ex-dividend date is Monday, December 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PWRL. Ieq Capital LLC acquired a new stake in Powerlaw in the 2nd quarter worth approximately $232,000. HighTower Advisors LLC bought a new position in shares of Powerlaw in the second quarter valued at approximately $431,000. Resolute Advisors LLC acquired a new stake in shares of Powerlaw in the second quarter worth $869,000. Finally, Bank of America Corp DE bought a new stake in shares of Powerlaw during the 2nd quarter worth $1,718,000.

Powerlaw Company Profile

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.