Reservoir Media, Inc. (NASDAQ:RSVRW) Sees Large Decline in Short Interest

Reservoir Media, Inc. (NASDAQ:RSVRW) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,200 shares, a decline of 29.0% from the August 15th total of 3,100 shares. Based on an average daily volume of 4,500 shares, the days-to-cover ratio is presently 0.5 days.

Reservoir Media Price Performance

Shares of RSVRW remained flat at $1.10 during trading on Friday. The business has a fifty day simple moving average of $0.94 and a two-hundred day simple moving average of $1.00. Reservoir Media has a 52 week low of $0.63 and a 52 week high of $1.65.

Institutional Trading of Reservoir Media

A hedge fund recently bought a new stake in Reservoir Media stock. Sanders Morris Harris LLC acquired a new stake in shares of Reservoir Media, Inc. (NASDAQ:RSVRW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 239,650 shares of the company’s stock, valued at approximately $359,000.

Reservoir Media Company Profile

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.