Prestige Wealth Inc. (NASDAQ:PWM) Sees Significant Growth in Short Interest

Prestige Wealth Inc. (NASDAQ:PWM) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 157,900 shares, a growth of 1,714.9% from the February 28th total of 8,700 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 807,500 shares, the short-interest ratio is currently 0.2 days.

Prestige Wealth Stock Down 2.6 %

Shares of PWM stock traded down $0.01 during trading hours on Wednesday, reaching $0.47. The stock had a trading volume of 35,069 shares, compared to its average volume of 610,361. The firm has a 50-day simple moving average of $0.93 and a 200-day simple moving average of $1.02. Prestige Wealth has a twelve month low of $0.45 and a twelve month high of $2.70.

Institutional Investors Weigh In On Prestige Wealth

A hedge fund recently bought a new stake in Prestige Wealth stock. Bank of America Corp DE bought a new stake in Prestige Wealth Inc. (NASDAQ:PWM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 24,179 shares of the company’s stock, valued at approximately $31,000. Bank of America Corp DE owned 0.27% of Prestige Wealth at the end of the most recent reporting period. Institutional investors own 7.68% of the company’s stock.

About Prestige Wealth

Prestige Wealth Inc, through its subsidiaries, provides wealth management and asset management services. It assists its clients in identifying and purchasing wealth and asset management products. The company offers its services primarily for high net worth and ultra-high net worth individuals, including business owners, executives, heirs of rich families, and other affluent individuals in Asia primarily in the mainland China or Hong Kong.