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

Prestige Wealth Inc. (NASDAQ:PWM) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 35,200 shares, an increase of 238.5% from the April 30th total of 10,400 shares. Based on an average daily trading volume, of 180,700 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Prestige Wealth

An institutional investor recently bought a new position in Prestige Wealth stock. Bank of America Corp DE purchased a new stake in shares of Prestige Wealth Inc. (NASDAQ:PWM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 7.68% of the company’s stock.

Prestige Wealth Price Performance

Shares of NASDAQ PWM opened at $0.39 on Friday. Prestige Wealth has a fifty-two week low of $0.31 and a fifty-two week high of $2.70. The business has a 50-day simple moving average of $0.40 and a two-hundred day simple moving average of $0.87.

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.