Reliance Global Group, Inc. (NASDAQ:RELI) Sees Large Decline in Short Interest

Reliance Global Group, Inc. (NASDAQ:RELI) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 70,200 shares, a decline of 21.6% from the February 13th total of 89,500 shares. Currently, 3.0% of the company’s shares are sold short. Based on an average daily volume of 1,790,000 shares, the days-to-cover ratio is presently 0.0 days.

Reliance Global Group Stock Performance

Reliance Global Group stock remained flat at $1.34 during trading on Tuesday. 17,110 shares of the company were exchanged, compared to its average volume of 690,292. Reliance Global Group has a 52-week low of $1.18 and a 52-week high of $18.53. The business’s 50-day moving average price is $1.80 and its 200 day moving average price is $2.02.

Institutional Investors Weigh In On Reliance Global Group

A hedge fund recently bought a new stake in Reliance Global Group stock. Geode Capital Management LLC bought a new stake in Reliance Global Group, Inc. (NASDAQ:RELI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,050 shares of the company’s stock, valued at approximately $26,000.

About Reliance Global Group

Reliance Global Group, Inc focuses in the acquisition and management of wholesale and retail insurance agencies in the United States. It provides agency services for insurance products in the healthcare and Medicare, personal and commercial, trucking, property and casualty, and insurance brokerage. The company was formerly known as Ethos Media Network, Inc and changed its name to Reliance Global Group, Inc in October 2018.