ARB IOT Group Limited (NASDAQ:ARBB) Short Interest Down 49.7% in March

ARB IOT Group Limited (NASDAQ:ARBB) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 430,700 shares, a drop of 49.7% from the February 28th total of 856,700 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily trading volume, of 3,390,000 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ARB IOT Group stock. Renaissance Technologies LLC purchased a new stake in shares of ARB IOT Group Limited (NASDAQ:ARBB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 56,900 shares of the company’s stock, valued at approximately $28,000. Renaissance Technologies LLC owned 0.22% of ARB IOT Group at the end of the most recent reporting period. 14.79% of the stock is owned by hedge funds and other institutional investors.

ARB IOT Group Price Performance

Shares of NASDAQ:ARBB opened at $0.77 on Friday. The business has a 50-day simple moving average of $0.59 and a two-hundred day simple moving average of $0.50. ARB IOT Group has a fifty-two week low of $0.21 and a fifty-two week high of $1.46.

About ARB IOT Group

ARB IOT Group Limited, through its subsidiaries, provides Internet of Things (IoT) system solutions, and system integration and support services in Malaysia. It offers IoT smart home and building solutions, such as design, procurement, and provision of smart home products and devices; integration services; and electrical wire installation and home data network setup for homeowners, as well as provides smart building solutions, including design, procurement, installation, testing, pre-commissioning and commissioning of various IoT systems, solutions, and devices; and integration of automated systems for smart buildings, including installation of wire and wireless, and mechatronic works for property developers and contractors.