Swvl (NASDAQ:SWVL) Stock Price Up 3.4% – Time to Buy?

Swvl Holdings Corp. (NASDAQ:SWVL) rose 3.4% during trading on Wednesday . The company traded as high as $6.46 and last traded at $6.45. Approximately 12,050 shares were traded during trading, a decline of 88% from the average daily volume of 98,631 shares. The stock had previously closed at $6.24.

Swvl Stock Performance

The business’s 50-day simple moving average is $4.15 and its 200 day simple moving average is $5.91.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Swvl stock. Connective Capital Management LLC bought a new position in Swvl Holdings Corp. (NASDAQ:SWVL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 19,347 shares of the company’s stock, valued at approximately $123,000. Swvl comprises 0.2% of Connective Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Connective Capital Management LLC owned about 0.28% of Swvl as of its most recent SEC filing. 34.03% of the stock is owned by hedge funds and other institutional investors.

About Swvl

Swvl Holdings Corp. provides mass transit ridesharing services. It offers B2C Swvl Retail, which provides riders with a network of minibuses and other vehicles running on fixed or semi-fixed routes within cities; Swvl Travel that allows riders to book rides on long-distance intercity routes on vehicle available through the Swvl platform or through third-party services; and Swvl Business, a transport as a service enterprise product for businesses, schools, municipal transit agencies, and other customers.