Reservoir Media, Inc. (NASDAQ:RSVRW) Sees Large Growth in Short Interest

Reservoir Media, Inc. (NASDAQ:RSVRW) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,200 shares, a growth of 71.4% from the February 13th total of 700 shares. Based on an average trading volume of 3,900 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Reservoir Media stock. Wolverine Asset Management LLC increased its stake in shares of Reservoir Media, Inc. (NASDAQ:RSVRW) by 94.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 85,144 shares of the company’s stock after purchasing an additional 41,337 shares during the quarter. Wolverine Asset Management LLC’s holdings in Reservoir Media were worth $123,000 at the end of the most recent quarter.

Reservoir Media Price Performance

NASDAQ RSVRW traded up $0.04 during trading hours on Friday, hitting $0.92. The company’s stock had a trading volume of 1,781 shares, compared to its average volume of 4,697. Reservoir Media has a 12 month low of $0.63 and a 12 month high of $1.60. The company’s 50 day simple moving average is $0.94 and its two-hundred day simple moving average is $1.12.

About Reservoir Media

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.