Anghami (NASDAQ:ANGH) Shares Down 5% – Here’s Why

Anghami Inc. (NASDAQ:ANGH) traded down 5% during trading on Tuesday . The company traded as low as $0.50 and last traded at $0.54. 21,022 shares traded hands during trading, a decline of 44% from the average session volume of 37,844 shares. The stock had previously closed at $0.56.

Anghami Trading Down 5.0%

The stock’s 50 day moving average is $0.61 and its 200 day moving average is $0.69.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Anghami stock. Geode Capital Management LLC lifted its stake in shares of Anghami Inc. (NASDAQ:ANGH) by 70.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,499 shares of the company’s stock after acquiring an additional 15,145 shares during the quarter. Geode Capital Management LLC owned about 0.12% of Anghami worth $29,000 at the end of the most recent reporting period.

Anghami Company Profile

Anghami Inc operates a digital music entertainment technology platform in the Middle East and North Africa. It offers digital entertainment and online streaming services, including music, podcasts, music videos, and live events; and a music application and platform that provides Arabic and international music to stream and download.