Short Interest in Magic Empire Global Limited (NASDAQ:MEGL) Declines By 85.5%

Magic Empire Global Limited (NASDAQ:MEGL) was the target of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 34,900 shares, a decrease of 85.5% from the January 31st total of 241,000 shares. Based on an average trading volume of 450,100 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.4% of the shares of the stock are short sold.

Magic Empire Global Stock Down 6.3 %

Shares of MEGL traded down $0.11 during trading hours on Thursday, reaching $1.56. 50,736 shares of the company traded hands, compared to its average volume of 738,139. The stock has a fifty day simple moving average of $2.23 and a 200 day simple moving average of $2.07. Magic Empire Global has a fifty-two week low of $1.50 and a fifty-two week high of $5.52.

Institutional Investors Weigh In On Magic Empire Global

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