Magic Empire Global (NASDAQ:MEGL) Trading Up 1.4% – Should You Buy?

Magic Empire Global Limited (NASDAQ:MEGL) shot up 1.4% during mid-day trading on Thursday . The stock traded as high as $1.60 and last traded at $1.48. 87,683 shares were traded during trading, a decline of 84% from the average session volume of 544,510 shares. The stock had previously closed at $1.46.

Magic Empire Global Price Performance

The business has a fifty day moving average of $1.90 and a 200-day moving average of $2.02.

Institutional Investors Weigh In On Magic Empire Global

A hedge fund recently raised its stake in Magic Empire Global stock. Renaissance Technologies LLC grew its stake in shares of Magic Empire Global Limited (NASDAQ:MEGL) by 139.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 about 0.29% of Magic Empire Global worth $31,000 as of its most recent filing with the Securities and Exchange Commission. 0.51% of the stock is currently owned by institutional investors.

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.