K Wave Media (NASDAQ:KWM) Trading Down 1.1% – Here’s Why

K Wave Media, Ltd. (NASDAQ:KWM)’s stock price traded down 1.1% during mid-day trading on Friday . The company traded as low as $0.60 and last traded at $0.62. 140,403 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 166,670 shares. The stock had previously closed at $0.6272.

K Wave Media Trading Down 1.1%

The company has a 50 day moving average of $0.69 and a 200 day moving average of $1.29.

Institutional Trading of K Wave Media

Large investors have recently made changes to their positions in the company. Galaxy Group Investments LLC acquired a new stake in K Wave Media in the fourth quarter valued at approximately $164,000. Jane Street Group LLC acquired a new position in K Wave Media during the 2nd quarter worth approximately $41,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of K Wave Media in the 3rd quarter valued at approximately $40,000. 62.18% of the stock is currently owned by hedge funds and other institutional investors.

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.