Metalpha Technology Holding Limited (NASDAQ:MATH – Get Free Report) experienced a significant decrease in short interest in June. The total short interest was 4,200 shares on June 15th, marking a 31.1% decline from the previous month. With an average daily trading volume of 18,800 shares, the days-to-cover ratio is currently 0.2 days, and 0.0% of the stock shares are being short sold.
On Monday, NASDAQ:MATH opened at $1.38. The company’s 50-day moving average is $1.45, while its 200-day moving average is $1.55. Metalpha Technology has traded between a 1-year low of $1.06 and a 1-year high of $2.27 during this period.
In terms of institutional trading, a hedge fund recently acquired a new stake in Metalpha Technology stock. Apollon Wealth Management LLC purchased approximately 34 million shares of the company’s stock for about $897 million, representing about 3% ownership at the end of the reporting period. This move indicates that institutional investors are showing confidence in Metalpha Technology’s growth potential and future success as they continue to invest in its subsidiaries that provide wealth management services in Hong Kong through digital asset-based wealth management services such as issuing traditional financial and cryptocurrency derivative products to over-the-counter clients and providing crypto derivative market making services among others.
Metalpha Technology Holding Limited also offers proprietary trading of digital assets and crypto derivative products along with securities advising and asset management services to its clients.
Overall, institutional investors account for approximately 34% ownership in Metalpha Technology Holding Limited through their investments in its subsidiaries that offer wealth management services through digital asset-based solutions such as cryptocurrency derivatives among others.
