Short Interest in Prestige Wealth Inc. (NASDAQ:PWM) Expands By 1,714.9%

Prestige Wealth Inc. (NASDAQ:PWM) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 157,900 shares, a growth of 1,714.9% from the February 28th total of 8,700 shares. Based on an average daily trading volume, of 807,500 shares, the short-interest ratio is presently 0.2 days. Approximately 1.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

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

Prestige Wealth Stock Performance

Shares of NASDAQ:PWM opened at $0.47 on Friday. Prestige Wealth has a 52-week low of $0.45 and a 52-week high of $2.70. The stock’s fifty day simple moving average is $0.91 and its 200-day simple moving average is $1.01.

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.