Global Star Acquisition (NASDAQ:GLST) Stock Price Down 5.2% – Time to Sell?

Global Star Acquisition, Inc. (NASDAQ:GLST) was down 5.2% on Monday . The stock traded as low as $11.37 and last traded at $11.37. Approximately 109 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 21,219 shares. The stock had previously closed at $11.99.

Global Star Acquisition Stock Down 5.2 %

The business has a 50 day simple moving average of $11.50 and a 200-day simple moving average of $11.26.

Institutional Investors Weigh In On Global Star Acquisition

A hedge fund recently bought a new stake in Global Star Acquisition stock. SkyView Investment Advisors LLC bought a new stake in Global Star Acquisition, Inc. (NASDAQ:GLST) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 238,000 shares of the company’s stock, valued at approximately $2,647,000. SkyView Investment Advisors LLC owned 8.17% of Global Star Acquisition at the end of the most recent reporting period. Institutional investors own 62.18% of the company’s stock.

About Global Star Acquisition

Global Star Acquisition, Inc does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in McLean, Virginia.