Swvl Holdings Corp. (NASDAQ:SWVL) Sees Significant Drop in Short Interest

Swvl Holdings Corp. (NASDAQ:SWVL) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 40,000 shares, a drop of 25.8% from the February 28th total of 53,900 shares. Based on an average trading volume of 17,300 shares, the days-to-cover ratio is presently 2.3 days. Currently, 0.7% of the company’s stock are sold short.

Swvl Stock Up 4.0 %

Shares of Swvl stock traded up $0.16 on Monday, reaching $4.21. The stock had a trading volume of 5,112 shares, compared to its average volume of 40,046. Swvl has a 1 year low of $2.55 and a 1 year high of $21.94. The company has a 50 day moving average price of $4.82 and a 200 day moving average price of $4.78.

Institutional Trading of Swvl

A hedge fund recently bought a new stake in Swvl stock. HITE Hedge Asset Management LLC acquired a new stake in Swvl Holdings Corp. (NASDAQ:SWVL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 32,910 shares of the company’s stock, valued at approximately $210,000. HITE Hedge Asset Management LLC owned 0.48% of Swvl as of its most recent SEC filing. Institutional investors own 34.03% of the company’s stock.

About Swvl

Swvl Holdings Corp. provides mass transit ridesharing services. It offers B2C Swvl Retail, which provides riders with a network of minibuses and other vehicles running on fixed or semi-fixed routes within cities; Swvl Travel that allows riders to book rides on long-distance intercity routes on vehicle available through the Swvl platform or through third-party services; and Swvl Business, a transport as a service enterprise product for businesses, schools, municipal transit agencies, and other customers.