Magic Empire Global (NASDAQ:MEGL) Stock Price Down 1.6% – What’s Next?

Magic Empire Global Limited (NASDAQ:MEGL)’s share price dropped 1.6% during trading on Friday . The stock traded as low as $1.23 and last traded at $1.25. Approximately 29,741 shares changed hands during trading, a decline of 96% from the average daily volume of 844,054 shares. The stock had previously closed at $1.27.

Magic Empire Global Price Performance

The stock’s 50-day moving average is $1.33 and its 200-day moving average is $1.78.

Institutional Trading of Magic Empire Global

A hedge fund recently raised its stake in Magic Empire Global stock. Renaissance Technologies LLC increased its position in Magic Empire Global Limited (NASDAQ:MEGL) by 139.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,828 shares of the company’s stock after buying an additional 33,628 shares during the period. Renaissance Technologies LLC owned 0.29% of Magic Empire Global worth $31,000 at the end of the most recent reporting period. 0.51% of the stock is owned by institutional investors.

About Magic Empire Global

Magic Empire Global Limited engages in the provision of corporate finance advisory services and underwriting services in Hong Kong. The company provides initial public offering sponsorship, financial and independent financial advisory, post-listing compliance advisory, and underwriting services by acting as global coordinator, bookrunner, lead manager, or underwriter.