Magic Empire Global (NASDAQ:MEGL) Shares Down 4.1% – Time to Sell?

Magic Empire Global Limited (NASDAQ:MEGL) shares dropped 4.1% on Friday . The company traded as low as $1.08 and last traded at $1.18. Approximately 23,439 shares were traded during trading, a decline of 94% from the average daily volume of 424,916 shares. The stock had previously closed at $1.23.

Magic Empire Global Trading Down 4.1 %

The business’s fifty day moving average is $1.56 and its two-hundred day moving average is $1.96.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Magic Empire Global stock. Renaissance Technologies LLC grew its position in Magic Empire Global Limited (NASDAQ:MEGL) by 139.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,828 shares of the company’s stock after buying an additional 33,628 shares during the quarter. Renaissance Technologies LLC owned 0.29% of Magic Empire Global worth $31,000 at the end of the most recent reporting period. Institutional investors own 0.51% of the company’s stock.

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.