Mega Matrix Corp. (NYSEAMERICAN:MTMT – Get Rating) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 151,500 shares, an increase of 66.9% from the November 30th total of 90,800 shares. Based on an average daily trading volume, of 58,600 shares, the days-to-cover ratio is presently 2.6 days. Approximately 0.8% of the company's shares are short sold.
Insider Buying and Selling
In related news, CEO Yucheng Hu sold 2,397,305 shares of Mega Matrix stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $1.00, for a total transaction of $2,397,305.00. Following the transaction, the chief executive officer now owns 5,593,700 shares in the company, valued at $5,593,700. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 30.17% of the stock is currently owned by company insiders.
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Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in Mega Matrix during the 3rd quarter worth $237,000. Vanguard Group Inc. acquired a new position in Mega Matrix during the 3rd quarter worth $206,000. BlackRock Inc. acquired a new position in shares of Mega Matrix during the 3rd quarter worth about $184,000. Two Sigma Investments LP acquired a new position in shares of Mega Matrix during the 3rd quarter worth about $87,000. Finally, State Street Corp acquired a new position in shares of Mega Matrix during the 3rd quarter worth about $32,000. 2.68% of the stock is owned by institutional investors and hedge funds.
Mega Matrix Stock Performance
NYSEAMERICAN:MTMT traded up $0.08 on Friday, reaching $1.76. The company's stock had a trading volume of 47,279 shares, compared to its average volume of 48,417. Mega Matrix has a 12-month low of $0.91 and a 12-month high of $12.76.
Mega Matrix Company Profile
(Get Rating)
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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