Short Interest in Prestige Wealth Inc. (NASDAQ:PWM) Drops By 82.3%

Prestige Wealth Inc. (NASDAQ:PWM) was the target of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 38,300 shares, a drop of 82.3% from the January 31st total of 216,500 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 840,300 shares, the short-interest ratio is currently 0.0 days.

Prestige Wealth Stock Down 5.7 %

Shares of NASDAQ PWM opened at $0.63 on Friday. Prestige Wealth has a twelve month low of $0.45 and a twelve month high of $2.70. The stock has a fifty day simple moving average of $1.26 and a 200-day simple moving average of $1.07.

Hedge Funds Weigh In On Prestige Wealth

A hedge fund recently bought a new stake in Prestige Wealth stock. Bank of America Corp DE purchased a new position in shares of Prestige Wealth Inc. (NASDAQ:PWM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,179 shares of the company’s stock, valued at approximately $31,000. Bank of America Corp DE owned approximately 0.27% of Prestige Wealth as of its most recent filing with the Securities & Exchange Commission. 7.68% of the stock is owned by institutional investors and hedge funds.

Prestige Wealth Company Profile

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.