Reliance Global Group, Inc. (NASDAQ:RELI) Sees Large Drop in Short Interest

Reliance Global Group, Inc. (NASDAQ:RELIGet Rating) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 334,300 shares, a drop of 16.0% from the April 30th total of 397,800 shares. Approximately 5.3% of the shares of the company are short sold. Based on an average daily volume of 271,700 shares, the days-to-cover ratio is currently 1.2 days.

Shares of Reliance Global Group stock traded down $0.11 during midday trading on Wednesday, hitting $2.43. The company had a trading volume of 2,661 shares, compared to its average volume of 2,235,475. The company has a fifty day simple moving average of $3.12 and a 200 day simple moving average of $4.39. Reliance Global Group has a 12-month low of $1.83 and a 12-month high of $10.49.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Reliance Global Group by 28,373.6% in the 1st quarter. BlackRock Inc. now owns 157,459 shares of the company’s stock valued at $679,000 after purchasing an additional 156,906 shares during the last quarter. Clear Street LLC purchased a new position in Reliance Global Group during the 4th quarter worth approximately $500,000. Geode Capital Management LLC raised its position in Reliance Global Group by 28.2% during the 4th quarter. Geode Capital Management LLC now owns 65,181 shares of the company’s stock worth $419,000 after buying an additional 14,320 shares during the last quarter. State Street Corp purchased a new position in Reliance Global Group during the 4th quarter worth approximately $193,000. Finally, Squarepoint Ops LLC purchased a new position in Reliance Global Group during the 4th quarter worth approximately $138,000.

About Reliance Global Group (Get Rating)

Reliance Global Group, Inc engages in the acquisition and management of wholesale and retail insurance agencies in the United States. It provides healthcare and Medicare, personal and commercial, trucking, and employee benefits insurance products. The company was formerly known as Ethos Media Network, Inc and changed its name to Reliance Global Group, Inc in October 2018.

See Also

Want More Great Investing Ideas?

Receive News & Ratings for Reliance Global Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Global Group and related companies with MarketBeat.com's FREE daily email newsletter.