Magic Empire Global (NASDAQ:MEGL) Stock Price Up 1.4% – Still a Buy?

Magic Empire Global Limited (NASDAQ:MEGL) shares rose 1.4% on Thursday . The stock traded as high as $1.60 and last traded at $1.48. Approximately 87,683 shares changed hands during trading, a decline of 84% from the average daily volume of 544,510 shares. The stock had previously closed at $1.46.

Magic Empire Global Trading Up 1.4 %

The company has a 50-day moving average price of $1.93 and a two-hundred day moving average price of $2.02.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Magic Empire Global stock. Renaissance Technologies LLC boosted its position in Magic Empire Global Limited (NASDAQ:MEGL) by 139.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,828 shares of the company’s stock after buying an additional 33,628 shares during the quarter. Renaissance Technologies LLC owned approximately 0.29% of Magic Empire Global worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds 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.