Short Interest in K Wave Media, Ltd. (NASDAQ:KWM) Expands By 99.3%

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. purchased a new position in K Wave Media in the third quarter valued at $40,000. Jane Street Group LLC purchased a new position in K Wave Media in the second quarter valued at $41,000. Finally, Galaxy Group Investments LLC purchased a new position in K Wave Media in the fourth quarter valued at $164,000. 62.18% of the stock is currently owned by hedge funds and other institutional investors.

K Wave Media Trading Down 33.8%

NASDAQ:KWM traded down $0.23 during midday trading on Friday, reaching $0.45. The company had a trading volume of 8,413,669 shares, compared to its average volume of 626,955. The stock’s fifty day simple moving average is $0.67 and its 200-day simple moving average is $1.05. K Wave Media has a 12-month low of $0.38 and a 12-month high of $8.48.

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.