Yalla Group (NYSE:YALA) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Yalla Group Limited (NYSE:YALA) saw strong trading volume on Friday . 379,504 shares changed hands during trading, an increase of 147% from the previous session’s volume of 153,472 shares.The stock last traded at $4.26 and had previously closed at $4.34.

Yalla Group Price Performance

The stock has a market capitalization of $672.06 million, a P/E ratio of 5.78 and a beta of 1.19. The company’s 50 day simple moving average is $4.09 and its two-hundred day simple moving average is $4.16.

Institutional Trading of Yalla Group

Several hedge funds have recently modified their holdings of YALA. Public Employees Retirement System of Ohio bought a new stake in shares of Yalla Group during the third quarter valued at approximately $53,000. Walleye Capital LLC acquired a new position in Yalla Group in the third quarter valued at approximately $68,000. Dynamic Technology Lab Private Ltd acquired a new position in Yalla Group in the fourth quarter valued at approximately $74,000. GAMMA Investing LLC lifted its holdings in Yalla Group by 150.3% in the fourth quarter. GAMMA Investing LLC now owns 23,248 shares of the company’s stock valued at $94,000 after buying an additional 13,960 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in Yalla Group by 14.7% in the fourth quarter. QRG Capital Management Inc. now owns 23,400 shares of the company’s stock valued at $95,000 after buying an additional 2,996 shares during the period. 4.73% of the stock is owned by institutional investors.

Yalla Group Company Profile

Yalla Group Limited operates a social networking and gaming platform primarily in the Middle East and North Africa region. It provides mobile applications, including Yalla, a voice-centric group chat platform; and Yalla Ludo, a casual gaming application. The company’s platform offers group chatting and games services; and sells virtual items, as well as provides upgrade services.