Reliance Global Group (NASDAQ:RELI) Shares to Reverse Split on Monday, July 1st

Shares of Reliance Global Group, Inc. (NASDAQ:RELI) are scheduled to reverse split on Monday, July 1st. The 1-17 reverse split was announced on Monday, July 1st. The number of shares owned by shareholders will be adjusted after the market closes on Monday, July 1st.

Reliance Global Group Stock Down 28.2 %

RELI opened at $0.29 on Thursday. Reliance Global Group has a twelve month low of $0.21 and a twelve month high of $5.07. The company has a fifty day simple moving average of $0.29 and a 200 day simple moving average of $0.40.

Insider Buying and Selling at Reliance Global Group

In other Reliance Global Group news, CEO Ezra Beyman acquired 186,000 shares of the stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $0.27 per share, for a total transaction of $50,220.00. Following the purchase, the chief executive officer now directly owns 303,886 shares in the company, valued at $82,049.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Reliance Global Group stock. Armistice Capital LLC bought a new stake in Reliance Global Group, Inc. (NASDAQ:RELI) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 157,736 shares of the company’s stock, valued at approximately $85,000.

Reliance Global Group Company Profile

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.