Prestige Wealth Inc. (NASDAQ:PWM) Short Interest Up 1,714.9% in March

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

Prestige Wealth Stock Down 2.6 %

NASDAQ:PWM traded down $0.01 during mid-day trading on Wednesday, reaching $0.47. The stock had a trading volume of 35,069 shares, compared to its average volume of 610,361. Prestige Wealth has a 1-year low of $0.45 and a 1-year high of $2.70. The stock’s 50 day simple moving average is $0.93 and its two-hundred day simple moving average is $1.02.

Institutional Investors Weigh In On Prestige Wealth

An institutional investor recently bought a new position in Prestige Wealth stock. Bank of America Corp DE bought a new stake in shares of Prestige Wealth Inc. (NASDAQ:PWM) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 24,179 shares of the company’s stock, valued at approximately $31,000. Bank of America Corp DE owned about 0.27% of Prestige Wealth at the end of the most recent reporting period. 7.68% of the stock is currently 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.