Glory Star New Media Group (NASDAQ:GSMG) Shares Up 7%

Glory Star New Media Group Holdings Limited (NASDAQ:GSMG) rose 7% on Friday . The stock traded as high as $2.70 and last traded at $2.60. Approximately 30,843 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 630,436 shares. The stock had previously closed at $2.43.

Glory Star New Media Group Stock Up 7.0 %

The firm has a 50 day moving average price of $2.52 and a two-hundred day moving average price of $2.10.

Hedge Funds Weigh In On Glory Star New Media Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley lifted its position in Glory Star New Media Group by 25.4% during the 4th quarter. Morgan Stanley now owns 108,497 shares of the company’s stock worth $158,000 after acquiring an additional 21,945 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Glory Star New Media Group during the 3rd quarter worth approximately $47,000. Marshall Wace LLP acquired a new position in Glory Star New Media Group during the 3rd quarter worth approximately $118,000. Citadel Advisors LLC lifted its position in Glory Star New Media Group by 431.6% during the 3rd quarter. Citadel Advisors LLC now owns 296,792 shares of the company’s stock worth $439,000 after acquiring an additional 240,960 shares in the last quarter. Finally, Maven Securities LTD lifted its position in Glory Star New Media Group by 14.8% during the 4th quarter. Maven Securities LTD now owns 4,241,088 shares of the company’s stock worth $6,192,000 after acquiring an additional 548,068 shares in the last quarter. 10.86% of the stock is owned by institutional investors and hedge funds.

Glory Star New Media Group Company Profile

Glory Star New Media Group Holdings Limited, through its subsidiaries, provides advertisement and content production services in the People's Republic of China. The company also engages in mobile and online advertising, and media and entertainment businesses. In addition, it operates CHEERS app, an e-commerce platform that allows users to access online store, live streaming, series TV shows, and online games, as well as online short videos, variety shows, and dramas.