Reliance Global Group, Inc. (NASDAQ:RELI) Short Interest Update

Reliance Global Group, Inc. (NASDAQ:RELI) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 191,600 shares, a drop of 30.1% from the May 31st total of 274,000 shares. Based on an average daily volume of 10,330,000 shares, the days-to-cover ratio is presently 0.0 days. Approximately 2.6% of the company’s shares are sold short.

Reliance Global Group Stock Performance

Shares of RELI stock traded down $0.02 during trading hours on Friday, hitting $0.23. 4,052,836 shares of the company were exchanged, compared to its average volume of 5,556,712. Reliance Global Group has a fifty-two week low of $0.21 and a fifty-two week high of $5.07. The company has a 50 day simple moving average of $0.29 and a two-hundred day simple moving average of $0.40.

Reliance Global Group shares are set to reverse split on Monday, July 1st. The 1-17 reverse split was announced on Monday, July 1st. The number of shares owned by shareholders will be adjusted after the market closes on Monday, July 1st.

Insiders Place Their Bets

In other news, CEO Ezra Beyman purchased 186,000 shares of the stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $0.27 per share, for a total transaction of $50,220.00. Following the acquisition, the chief executive officer now owns 303,886 shares in the company, valued at $82,049.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Trading of Reliance Global Group

A hedge fund recently bought a new stake in Reliance Global Group stock. Armistice Capital LLC purchased a new stake in Reliance Global Group, Inc. (NASDAQ:RELI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 157,736 shares of the company’s stock, valued at approximately $85,000.

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.