Prestige Wealth Inc. (NASDAQ:PWM) Sees Significant Increase in Short Interest

Prestige Wealth Inc. (NASDAQ:PWM) was the target of a large 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 volume of 807,500 shares, the short-interest ratio is currently 0.2 days. Currently, 1.3% of the company’s stock are sold short.

Institutional Investors Weigh In On Prestige Wealth

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) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 7.68% of the company’s stock.

Prestige Wealth Price Performance

NASDAQ PWM opened at $0.47 on Thursday. The business has a 50 day simple moving average of $0.93 and a 200 day simple moving average of $1.02. Prestige Wealth has a 52-week low of $0.45 and a 52-week high of $2.70.

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.