Reliance Global Group, Inc. (NASDAQ:RELI) Sees Large Drop in Short Interest

Reliance Global Group, Inc. (NASDAQ:RELI) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 34,800 shares, a drop of 50.4% from the February 28th total of 70,200 shares. Based on an average daily trading volume, of 1,780,000 shares, the short-interest ratio is presently 0.0 days. Approximately 1.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Reliance Global Group

A hedge fund recently bought a new stake in Reliance Global Group stock. Geode Capital Management LLC purchased a new stake in Reliance Global Group, Inc. (NASDAQ:RELI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,050 shares of the company’s stock, valued at approximately $26,000.

Reliance Global Group Price Performance

Shares of NASDAQ RELI traded down $0.05 during trading on Friday, hitting $1.22. The company had a trading volume of 55,198 shares, compared to its average volume of 694,049. Reliance Global Group has a 52 week low of $1.18 and a 52 week high of $18.53. The business’s 50-day moving average is $1.63 and its 200 day moving average is $1.94.

About Reliance Global Group

Reliance Global Group, Inc focuses in the acquisition and management of wholesale and retail insurance agencies in the United States. It provides agency services for insurance products in the healthcare and Medicare, personal and commercial, trucking, property and casualty, and insurance brokerage. The company was formerly known as Ethos Media Network, Inc and changed its name to Reliance Global Group, Inc in October 2018.