Dragon Victory International Limited (NASDAQ:LYL) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 160,700 shares, a decline of 40.4% from the August 15th total of 269,700 shares. Based on an average daily trading volume, of 287,500 shares, the days-to-cover ratio is currently 0.6 days.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in Dragon Victory International by 28.3% in the first quarter. Renaissance Technologies LLC now owns 61,500 shares of the company’s stock valued at $100,000 after acquiring an additional 13,571 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Dragon Victory International in the first quarter worth $35,000. Squarepoint Ops LLC acquired a new stake in shares of Dragon Victory International in the second quarter worth $45,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Dragon Victory International in the second quarter worth $33,000. 1.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Dragon Victory International stock traded down $0.09 during trading on Monday, hitting $1.30. The stock had a trading volume of 789 shares, compared to its average volume of 990,783. The stock has a 50 day simple moving average of $1.39 and a 200 day simple moving average of $1.47. Dragon Victory International has a 1 year low of $0.91 and a 1 year high of $4.94.
Dragon Victory International Ltd. is a holding company, which engages in the development of reward-based crowdfunding platform. It operates through the following segments: Longyun, Taikexi, and Other. The Longyun segment involves in crowdfunding and incubation business. The Taikexi segment provides auto parts sourcing and logistics services.
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