Shares of Mega Matrix Corp. (NYSEAMERICAN:MTMT – Get Rating) were up 3.4% on Thursday . The stock traded as high as $1.80 and last traded at $1.80. Approximately 30,479 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 236,522 shares. The stock had previously closed at $1.74.

Mega Matrix Price Performance

Insider Activity at Mega Matrix

In related news, CEO Yucheng Hu sold 2,397,305 shares of Mega Matrix stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $1.00, for a total value of $2,397,305.00. Following the completion of the sale, the chief executive officer now directly owns 5,593,700 shares in the company, valued at $5,593,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mega Matrix

A number of large investors have recently added to or reduced their stakes in MTMT. Renaissance Technologies LLC bought a new position in Mega Matrix in the third quarter worth about $237,000. Vanguard Group Inc. bought a new position in Mega Matrix in the third quarter worth about $206,000. BlackRock Inc. acquired a new position in shares of Mega Matrix during the third quarter valued at about $184,000. Two Sigma Investments LP acquired a new position in shares of Mega Matrix during the third quarter valued at about $87,000. Finally, State Street Corp acquired a new position in shares of Mega Matrix during the third quarter valued at about $32,000. 2.68% of the stock is currently owned by institutional investors.

Mega Matrix Company Profile

Mega Matrix Corp., together with its subsidiaries, engages in the GameFi business in the metaverse ecosystem. It also provides aircraft advisory and management services. The company was formerly known as AeroCentury Corp. and changed its name to Mega Matrix Corp. in March 2022. Mega Matrix Corp. was incorporated in 1997 and is headquartered in Palo Alto, California.

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