FTAI Infrastructure Inc. (NASDAQ:FIP) Sees Large Decline in Short Interest

FTAI Infrastructure Inc. (NASDAQ:FIP - Get Free Report) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 6,260,000 shares, a decline of 5.9% from the November 15th total of 6,650,000 shares. Based on an average trading volume of 1,180,000 shares, the days-to-cover ratio is currently 5.3 days. Approximately 5.8% of the company's stock are short sold.

FTAI Infrastructure Stock Performance

FIP stock traded down $0.02 during trading on Tuesday, reaching $7.98. The company had a trading volume of 1,370,309 shares, compared to its average volume of 1,189,637. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.42 and a current ratio of 1.42. FTAI Infrastructure has a twelve month low of $3.42 and a twelve month high of $10.45. The company has a market cap of $907.69 million, a price-to-earnings ratio of -4.03 and a beta of 1.34. The firm has a 50-day simple moving average of $8.73 and a 200-day simple moving average of $8.93.

FTAI Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th were issued a $0.03 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.12 annualized dividend and a yield of 1.50%. FTAI Infrastructure's dividend payout ratio (DPR) is presently -6.06%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in shares of FTAI Infrastructure by 5,651.2% in the third quarter. FMR LLC now owns 348,349 shares of the company's stock valued at $3,261,000 after purchasing an additional 342,292 shares during the period. Charles Schwab Investment Management Inc. increased its stake in FTAI Infrastructure by 198.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,363 shares of the company's stock worth $7,941,000 after buying an additional 564,566 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in shares of FTAI Infrastructure during the second quarter valued at approximately $2,766,000. Highland Peak Capital LLC lifted its position in shares of FTAI Infrastructure by 194.3% in the third quarter. Highland Peak Capital LLC now owns 1,755,349 shares of the company's stock valued at $16,430,000 after acquiring an additional 1,158,816 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in FTAI Infrastructure by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 794,868 shares of the company's stock valued at $6,860,000 after purchasing an additional 65,218 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

FTAI Infrastructure Company Profile

FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.