Maiden Holdings North America, Ltd. (NYSE:MHNC) Shares Shorted: Short Interest Down 58.3% in October

Maiden Holdings North America, Ltd. (NYSE:MHNC) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 1,396 shares, a decline of 58.3% from the September 30th total of 3,347 shares. Based on an average daily trading volume, of 5,567 shares, the days-to-cover ratio is presently 0.3 days.

Maiden Holdings North America Price Performance

NYSE:MHNC traded up $0.07 on Friday, hitting $10.68. The company’s stock had a trading volume of 6,583 shares, compared to its average volume of 4,804. Maiden Holdings North America has a one year low of $10.09 and a one year high of $17.99. The stock has a fifty day moving average of $10.86 and a two-hundred day moving average of $12.62.

Maiden Holdings North America Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Sunday, November 15th will be issued a dividend of $0.4844 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 18.1%. The ex-dividend date of this dividend is Friday, November 13th. This is a drop from Maiden Holdings North America’s previous quarterly dividend of $0.4844.

Maiden Holdings North America, Ltd. is a subsidiary of Maiden Holdings, Ltd., a Bermuda-based specialty insurance and reinsurance group. The company has historically served as a holding company for Maiden’s North American reinsurance operations, including its U.S.-based operating subsidiaries.

Through its affiliated companies, Maiden provided property and casualty reinsurance to insurance carriers and other specialty insurance businesses. Its offerings historically included quota-share and excess-of-loss reinsurance, with exposure to lines such as personal and commercial automobile, workers’ compensation, and other specialty risks.

Maiden’s North American operations have undergone significant changes as the parent company reduced underwriting activity and focused on managing legacy liabilities and runoff business.