K Wave Media, Ltd. (NASDAQ:KWM) Sees Large Drop in Short Interest

K Wave Media, Ltd. (NASDAQ:KWM) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 114,901 shares, a drop of 81.1% from the December 31st total of 608,082 shares. Based on an average daily trading volume, of 499,483 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.5% of the company’s shares are sold short. Currently, 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 499,483 shares, the days-to-cover ratio is presently 0.2 days.

K Wave Media Stock Performance

KWM stock traded up $0.09 during midday trading on Tuesday, hitting $0.79. The company had a trading volume of 203,396 shares, compared to its average volume of 513,680. K Wave Media has a 52 week low of $0.38 and a 52 week high of $8.48. The firm has a 50 day moving average price of $0.60.

Institutional Trading of K Wave Media

A hedge fund recently bought a new stake in K Wave Media stock. Vontobel Holding Ltd. acquired a new stake in shares of K Wave Media, Ltd. (NASDAQ:KWM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 16,419 shares of the company’s stock, valued at approximately $40,000. 62.18% of the stock is owned by hedge funds and other institutional investors.

About K Wave Media

K Wave Media engaged in the entertainment content and IP creation businesses. K Wave Media, formerly known as Global Star Acquisition Inc, is based in NEW YORK.