Yalla Group (NYSE:YALA) Sees Unusually-High Trading Volume – Here’s Why

Yalla Group Limited (NYSE:YALA) saw unusually-high trading volume on Friday . Approximately 279,156 shares traded hands during trading, an increase of 12% from the previous session’s volume of 250,013 shares.The stock last traded at $4.20 and had previously closed at $4.23.

Yalla Group Trading Up 1.2 %

The business’s fifty day simple moving average is $4.31 and its 200-day simple moving average is $4.36. The firm has a market cap of $678.56 million, a P/E ratio of 5.86 and a beta of 1.19.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of YALA. EverSource Wealth Advisors LLC grew its position in shares of Yalla Group by 1,104.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,576 shares of the company’s stock worth $26,000 after buying an additional 5,113 shares during the last quarter. GAMMA Investing LLC lifted its stake in Yalla Group by 145.1% in the third quarter. GAMMA Investing LLC now owns 9,288 shares of the company’s stock worth $42,000 after acquiring an additional 5,498 shares during the period. Blue Trust Inc. boosted its holdings in Yalla Group by 36,378.6% in the second quarter. Blue Trust Inc. now owns 10,214 shares of the company’s stock valued at $49,000 after acquiring an additional 10,186 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Yalla Group during the 3rd quarter valued at $53,000. Finally, Walleye Capital LLC bought a new position in Yalla Group in the 3rd quarter worth $68,000. Hedge funds and other institutional investors own 4.73% of the company’s stock.

About Yalla Group

Yalla Group Limited operates a social networking and gaming platform primarily in the Middle East and North Africa region. It provides mobile applications, including Yalla, a voice-centric group chat platform; and Yalla Ludo, a casual gaming application. The company’s platform offers group chatting and games services; and sells virtual items, as well as provides upgrade services.