ARB IOT Group Limited (NASDAQ:ARBB) Short Interest Down 49.7% in March

ARB IOT Group Limited (NASDAQ:ARBB) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 430,700 shares, a decline of 49.7% from the February 28th total of 856,700 shares. Based on an average daily volume of 3,390,000 shares, the short-interest ratio is currently 0.1 days. Approximately 2.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On ARB IOT Group

A hedge fund recently raised its stake in ARB IOT Group stock. Citadel Advisors LLC lifted its stake in shares of ARB IOT Group Limited (NASDAQ:ARBB) by 120.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,831 shares of the company’s stock after acquiring an additional 39,744 shares during the period. Citadel Advisors LLC owned 0.28% of ARB IOT Group worth $36,000 as of its most recent SEC filing. 14.79% of the stock is owned by institutional investors and hedge funds.

ARB IOT Group Trading Up 2.9 %

Shares of ARBB opened at $0.70 on Friday. ARB IOT Group has a 52-week low of $0.21 and a 52-week high of $1.49. The company has a 50-day simple moving average of $0.59 and a 200-day simple moving average of $0.49.

ARB IOT Group Company Profile

ARB IOT Group Limited, through its subsidiaries, provides Internet of Things (IoT) system solutions, and system integration and support services in Malaysia. It offers IoT smart home and building solutions, such as design, procurement, and provision of smart home products and devices; integration services; and electrical wire installation and home data network setup for homeowners, as well as provides smart building solutions, including design, procurement, installation, testing, pre-commissioning and commissioning of various IoT systems, solutions, and devices; and integration of automated systems for smart buildings, including installation of wire and wireless, and mechatronic works for property developers and contractors.