Sachem Capital Corp (NYSEAMERICAN:SACH) was the recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totalling 13,000 shares, a drop of 76.4% from the February 27th total of 55,200 shares. Based on an average daily volume of 86,500 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.
NYSEAMERICAN SACH traded up $0.32 during trading on Thursday, hitting $2.09. 172,726 shares of the company traded hands, compared to its average volume of 118,199. Sachem Capital has a 12 month low of $1.20 and a 12 month high of $5.70.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Beacon Financial Advisory LLC bought a new position in Sachem Capital during the fourth quarter valued at about $45,000. Squarepoint Ops LLC raised its holdings in Sachem Capital by 146.6% during the third quarter. Squarepoint Ops LLC now owns 33,532 shares of the company’s stock valued at $158,000 after buying an additional 19,932 shares in the last quarter. Cox Capital Mgt LLC raised its holdings in Sachem Capital by 80.1% during the fourth quarter. Cox Capital Mgt LLC now owns 164,508 shares of the company’s stock valued at $714,000 after buying an additional 73,155 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Sachem Capital during the fourth quarter valued at about $99,000. Finally, PVG Asset Management Corp bought a new position in Sachem Capital during the third quarter valued at about $189,000.
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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