Short Interest in Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) Decreases By 13.8%

Allied Gaming & Entertainment Inc. (NASDAQ:AGAE) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 97,700 shares, a drop of 13.8% from the October 15th total of 113,400 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average trading volume of 40,200 shares, the short-interest ratio is presently 2.4 days.

Allied Gaming & Entertainment Stock Performance

Allied Gaming & Entertainment stock opened at $0.84 on Friday. Allied Gaming & Entertainment has a fifty-two week low of $0.76 and a fifty-two week high of $1.49. The company’s 50-day moving average is $0.87 and its 200-day moving average is $0.95.

Insider Activity

In related news, major shareholder Roy Choi bought 151,993 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were acquired at an average price of $0.94 per share, for a total transaction of $142,873.42. Following the completion of the acquisition, the insider now owns 252,993 shares of the company’s stock, valued at approximately $237,813.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 39.40% of the stock is owned by corporate insiders.

Institutional Trading of Allied Gaming & Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of AGAE. Jane Street Group LLC bought a new stake in Allied Gaming & Entertainment in the 3rd quarter valued at $26,000. Renaissance Technologies LLC bought a new position in Allied Gaming & Entertainment in the 2nd quarter valued at about $32,000. Citadel Advisors LLC acquired a new stake in Allied Gaming & Entertainment during the second quarter worth approximately $33,000. Innealta Capital LLC bought a new stake in shares of Allied Gaming & Entertainment during the second quarter worth approximately $62,000. Finally, State Street Corp bought a new stake in shares of Allied Gaming & Entertainment during the second quarter worth approximately $74,000. Institutional investors own 3.21% of the company’s stock.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment Inc provides entertainment and gaming products worldwide. It operates esports properties to connect players and fans through a network of connected arenas; a flagship gaming arena located at the Luxor Hotel in Las Vegas, Nevada; a mobile esports truck that serves as a battleground and content generation hub; and a studio for recording and streaming gaming events.