K Wave Media, Ltd. (NASDAQ:KWM) Sees Significant Growth in Short Interest

K Wave Media, Ltd. (NASDAQ:KWM) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 263,645 shares, a growth of 99.3% from the March 15th total of 132,270 shares. Based on an average daily trading volume, of 212,260 shares, the short-interest ratio is presently 1.2 days. Approximately 1.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new stake in shares of K Wave Media during the second quarter worth approximately $41,000. Vontobel Holding Ltd. purchased a new position in K Wave Media in the 3rd quarter valued at $40,000. Finally, Galaxy Group Investments LLC acquired a new position in K Wave Media in the 4th quarter valued at $164,000. Institutional investors and hedge funds own 62.18% of the company’s stock.

K Wave Media Stock Performance

Shares of NASDAQ KWM traded down $0.01 during midday trading on Tuesday, reaching $0.39. 702,989 shares of the company were exchanged, compared to its average volume of 687,527. K Wave Media has a 1 year low of $0.36 and a 1 year high of $8.48. The stock has a fifty day simple moving average of $0.65 and a 200 day simple moving average of $1.02.

About K Wave Media

K Wave Media engaged in the entertainment content and IP creation businesses. K Wave Media, formerly known as Global Star Acquisition Inc, is based in NEW YORK.