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

Magic Empire Global Limited (NASDAQ:MEGL) saw a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 34,900 shares, a decline of 85.5% from the January 31st total of 241,000 shares. Based on an average daily volume of 450,100 shares, the short-interest ratio is presently 0.1 days. Approximately 0.4% of the shares of the stock are sold short.

Magic Empire Global Trading Down 6.3 %

NASDAQ MEGL opened at $1.56 on Friday. Magic Empire Global has a 12 month low of $1.50 and a 12 month high of $5.52. The company’s 50 day simple moving average is $2.22 and its 200 day simple moving average is $2.06.

Hedge Funds Weigh In On Magic Empire Global

A hedge fund recently raised its stake in Magic Empire Global stock. Renaissance Technologies LLC increased its position in shares of Magic Empire Global Limited (NASDAQ:MEGL) by 139.0% during the fourth quarter, according to its most recent Form 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 quarter. Renaissance Technologies LLC owned 0.29% of Magic Empire Global worth $31,000 as of its most recent SEC filing. 0.51% of the stock is currently owned by institutional investors and hedge funds.

Magic Empire Global Company Profile

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.