Short Interest in Zedge, Inc. (NYSEAMERICAN:ZDGE) Declines By 17.1%

Zedge, Inc. (NYSEAMERICAN:ZDGE) saw a significant decline in short interest in April. As of April 15th, there was short interest totaling 134,524 shares, a decline of 17.1% from the March 31st total of 162,214 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average trading volume of 65,656 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZDGE. Marshall Wace LLP purchased a new position in Zedge during the second quarter worth about $331,000. HRT Financial LP purchased a new position in Zedge during the fourth quarter worth about $158,000. NewEdge Advisors LLC purchased a new position in Zedge during the second quarter worth about $191,000. Citadel Advisors LLC boosted its holdings in Zedge by 304.7% during the third quarter. Citadel Advisors LLC now owns 49,520 shares of the company’s stock worth $144,000 after purchasing an additional 37,285 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Zedge during the third quarter worth about $87,000. 29.37% of the stock is currently owned by hedge funds and other institutional investors.

Zedge Stock Up 1.5%

Zedge stock traded up $0.05 during midday trading on Friday, hitting $3.38. 91,269 shares of the stock were exchanged, compared to its average volume of 69,647. Zedge has a 52-week low of $2.12 and a 52-week high of $4.89. The stock has a market capitalization of $42.32 million, a price-to-earnings ratio of -22.53 and a beta of 1.31. The business’s 50-day moving average price is $3.05 and its 200-day moving average price is $3.06.

Zedge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 2.4%. This is a boost from Zedge’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, April 6th. Zedge’s dividend payout ratio is presently -8.96%.

About Zedge

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.