Glory Star New Media Group (NASDAQ:GSMG) Shares Up 7%

Glory Star New Media Group Holdings Limited (NASDAQ:GSMG) shares rose 7% on Friday . The stock traded as high as $2.70 and last traded at $2.60. Approximately 30,843 shares changed hands during trading, a decline of 95% from the average daily volume of 630,436 shares. The stock had previously closed at $2.43.

Glory Star New Media Group Trading Up 7.0 %

The company has a 50-day moving average price of $2.52 and a two-hundred day moving average price of $2.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Maven Securities LTD grew its holdings in shares of Glory Star New Media Group by 14.8% during the fourth quarter. Maven Securities LTD now owns 4,241,088 shares of the company’s stock worth $6,192,000 after purchasing an additional 548,068 shares in the last quarter. Citadel Advisors LLC grew its holdings in shares of Glory Star New Media Group by 431.6% during the third quarter. Citadel Advisors LLC now owns 296,792 shares of the company’s stock worth $439,000 after purchasing an additional 240,960 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Glory Star New Media Group by 652.7% during the fourth quarter. Renaissance Technologies LLC now owns 239,200 shares of the company’s stock worth $349,000 after purchasing an additional 207,422 shares in the last quarter. Morgan Stanley grew its holdings in shares of Glory Star New Media Group by 25.4% during the fourth quarter. Morgan Stanley now owns 108,497 shares of the company’s stock worth $158,000 after purchasing an additional 21,945 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Glory Star New Media Group during the third quarter worth about $118,000. Hedge funds and other institutional investors own 10.86% of the company’s stock.

About Glory Star New Media Group

Glory Star New Media Group Holdings Limited, through its subsidiaries, provides advertisement and content production services in the People's Republic of China. The company also engages in mobile and online advertising, and media and entertainment businesses. In addition, it operates CHEERS app, an e-commerce platform that allows users to access online store, live streaming, series TV shows, and online games, as well as online short videos, variety shows, and dramas.