Short Interest in Prestige Wealth Inc. (NASDAQ:PWM) Drops By 74.1%

Prestige Wealth Inc. (NASDAQ:PWM) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 40,900 shares, a drop of 74.1% from the March 15th total of 157,900 shares. Based on an average daily volume of 506,100 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.3% of the shares of the company are sold short.

Hedge Funds Weigh In On Prestige Wealth

A hedge fund recently bought a new stake in Prestige Wealth stock. Bank of America Corp DE purchased a new position in Prestige Wealth Inc. (NASDAQ:PWM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,179 shares of the company’s stock, valued at approximately $31,000. Bank of America Corp DE owned approximately 0.27% of Prestige Wealth as of its most recent SEC filing. 7.68% of the stock is owned by hedge funds and other institutional investors.

Prestige Wealth Stock Performance

PWM traded up $0.01 during midday trading on Thursday, reaching $0.35. The company’s stock had a trading volume of 2,605 shares, compared to its average volume of 604,784. Prestige Wealth has a twelve month low of $0.32 and a twelve month high of $2.70. The company has a fifty day simple moving average of $0.58 and a 200 day simple moving average of $0.97.

Prestige Wealth Company Profile

Prestige Wealth Inc, through its subsidiaries, provides wealth management and asset management services. It assists its clients in identifying and purchasing wealth and asset management products. The company offers its services primarily for high net worth and ultra-high net worth individuals, including business owners, executives, heirs of rich families, and other affluent individuals in Asia primarily in the mainland China or Hong Kong.