ARB IOT Group Limited (NASDAQ:ARBB) Sees Significant Drop in Short Interest

ARB IOT Group Limited (NASDAQ:ARBB) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 430,700 shares, a decline of 49.7% from the February 28th total of 856,700 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 3,390,000 shares, the days-to-cover ratio is presently 0.1 days.

ARB IOT Group Trading Up 10.0 %

ARBB opened at $0.77 on Friday. ARB IOT Group has a one year low of $0.21 and a one year high of $1.46. The business’s 50 day moving average price is $0.59 and its 200 day moving average price is $0.50.

Hedge Funds Weigh In On ARB IOT Group

An institutional investor recently raised its position in ARB IOT Group stock. Citadel Advisors LLC boosted its stake in ARB IOT Group Limited (NASDAQ:ARBB) by 120.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,831 shares of the company’s stock after buying an additional 39,744 shares during the period. Citadel Advisors LLC owned approximately 0.28% of ARB IOT Group worth $36,000 at the end of the most recent quarter. Institutional investors own 14.79% of the company’s stock.

About ARB IOT Group

ARB IOT Group Limited, through its subsidiaries, provides Internet of Things (IoT) system solutions, and system integration and support services in Malaysia. It offers IoT smart home and building solutions, such as design, procurement, and provision of smart home products and devices; integration services; and electrical wire installation and home data network setup for homeowners, as well as provides smart building solutions, including design, procurement, installation, testing, pre-commissioning and commissioning of various IoT systems, solutions, and devices; and integration of automated systems for smart buildings, including installation of wire and wireless, and mechatronic works for property developers and contractors.