Sachem Capital Corp (NYSEAMERICAN:SACH) saw a significant decline in short interest in March. As of March 13th, there was short interest totalling 13,000 shares, a decline of 76.4% from the February 27th total of 55,200 shares. Based on an average daily volume of 86,500 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PVG Asset Management Corp acquired a new position in shares of Sachem Capital in the 3rd quarter worth approximately $189,000. Squarepoint Ops LLC boosted its holdings in shares of Sachem Capital by 146.6% in the 3rd quarter. Squarepoint Ops LLC now owns 33,532 shares of the company’s stock worth $158,000 after acquiring an additional 19,932 shares in the last quarter. Cox Capital Mgt LLC boosted its holdings in shares of Sachem Capital by 80.1% in the 4th quarter. Cox Capital Mgt LLC now owns 164,508 shares of the company’s stock worth $714,000 after acquiring an additional 73,155 shares in the last quarter. Beacon Financial Advisory LLC acquired a new position in shares of Sachem Capital in the 4th quarter worth approximately $45,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Sachem Capital in the 4th quarter worth approximately $99,000.
NYSEAMERICAN SACH traded up $0.32 during trading on Thursday, reaching $2.09. 172,726 shares of the company traded hands, compared to its average volume of 118,199. Sachem Capital has a 1-year low of $1.20 and a 1-year high of $5.70.
Sachem Capital Corp. operates as a real estate finance company. The company engages in originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property located primarily in Connecticut. It offers loans to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties located in Connecticut, Massachusetts, Florida, New York, Vermont, and Rhode Island.
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