Destiny Tech100 (NYSE:DXYZ) Stock Jumps 1.1% – Time to Buy?

Destiny Tech100 Inc. (NYSE:DXYZ) shares rose 1.1% on Thursday. The stock traded as high as $31.74 and last traded at $31.2030. Approximately 816,351 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 2,316,004 shares. The stock had previously closed at $30.85.

Destiny Tech100 Trading Up 5.0%

The business’s 50 day moving average is $30.26 and its 200 day moving average is $32.63.

Insider Activity

In other Destiny Tech100 news, CEO Sohail Prasad acquired 9,760 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was bought at an average price of $32.14 per share, for a total transaction of $313,686.40. Following the acquisition, the chief executive officer directly owned 64,000 shares in the company, valued at $2,056,960. The trade was a 17.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders purchased 56,753 shares of company stock worth $1,792,336. 9.90% of the stock is currently owned by company insiders.

Institutional Trading of Destiny Tech100

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers grew its stake in Destiny Tech100 by 403.9% in the 1st quarter. Cetera Investment Advisers now owns 167,973 shares of the company’s stock worth $4,498,000 after acquiring an additional 134,638 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of Destiny Tech100 by 157.8% during the first quarter. Kestra Advisory Services LLC now owns 140,185 shares of the company’s stock worth $3,754,000 after acquiring an additional 85,803 shares during the period. FirstWave Capital Management LLC bought a new stake in shares of Destiny Tech100 during the second quarter valued at approximately $1,729,000. Noble Wealth Management PBC raised its stake in shares of Destiny Tech100 by 13,239.0% during the second quarter. Noble Wealth Management PBC now owns 40,017 shares of the company’s stock valued at $1,031,000 after acquiring an additional 39,717 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Destiny Tech100 in the fourth quarter valued at approximately $743,000.

Destiny Tech100 Inc (NYSE: DXYZ) is a closed-end investment company designed to provide public-market investors with access to a portfolio of late-stage, venture-backed private technology companies. Rather than operating technology businesses directly, the company invests in private companies across areas such as software, internet services, financial technology, artificial intelligence, space technology and other emerging technology sectors.

The fund seeks long-term capital appreciation through investments in a diversified group of privately held technology businesses, generally focusing on companies that have demonstrated significant development and may be approaching later stages of the venture-capital lifecycle.