Merchants Bancorp (NASDAQ:MBINM) Shares Down 0.1%

Merchants Bancorp (NASDAQ:MBINM) dropped 0.1% on Thursday . The stock traded as low as $24.67 and last traded at $24.87. Approximately 1,995 shares traded hands during trading, a decline of 81% from the average daily volume of 10,543 shares. The stock had previously closed at $24.88.

Merchants Bancorp Trading Down 0.1 %

The company has a fifty day simple moving average of $23.62 and a two-hundred day simple moving average of $23.82.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Merchants Bancorp stock. Archer Investment Corp acquired a new stake in Merchants Bancorp (NASDAQ:MBINM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,000 shares of the company’s stock, valued at approximately $92,000.

About Merchants Bancorp

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities; offers customized loan products for need-based skilled nursing facilities, independent living, assisted living, and memory care; and tax credit equity syndicator.