Magic Empire Global Limited (NASDAQ:MEGL) Short Interest Down 85.5% in February

Magic Empire Global Limited (NASDAQ:MEGL) was the recipient of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 34,900 shares, a drop of 85.5% from the January 31st total of 241,000 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 450,100 shares, the short-interest ratio is presently 0.1 days.

Magic Empire Global Trading Down 6.3 %

MEGL stock traded down $0.11 during midday trading on Thursday, reaching $1.56. 50,736 shares of the company’s stock traded hands, compared to its average volume of 738,139. Magic Empire Global has a fifty-two week low of $1.50 and a fifty-two week high of $5.52. The business has a 50-day moving average price of $2.23 and a two-hundred day moving average price of $2.07.

Hedge Funds Weigh In On Magic Empire Global

A hedge fund recently raised its stake in Magic Empire Global stock. Renaissance Technologies LLC raised its stake in Magic Empire Global Limited (NASDAQ:MEGL) by 139.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,828 shares of the company’s stock after purchasing an additional 33,628 shares during the quarter. Renaissance Technologies LLC owned about 0.29% of Magic Empire Global worth $31,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.51% of the company’s stock.

About Magic Empire Global

Magic Empire Global Limited engages in the provision of corporate finance advisory services and underwriting services in Hong Kong. The company provides initial public offering sponsorship, financial and independent financial advisory, post-listing compliance advisory, and underwriting services by acting as global coordinator, bookrunner, lead manager, or underwriter.