Reliance Global Group, Inc. (NASDAQ:RELI) Sees Significant Decline in Short Interest

Reliance Global Group, Inc. (NASDAQ:RELI) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 191,600 shares, a drop of 30.1% from the May 31st total of 274,000 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average trading volume of 10,330,000 shares, the days-to-cover ratio is currently 0.0 days.

Reliance Global Group Trading Up 9.5 %

RELI traded up $0.36 during mid-day trading on Monday, hitting $4.21. The stock had a trading volume of 1,102,492 shares, compared to its average volume of 332,963. The stock’s fifty day simple moving average is $0.29 and its 200-day simple moving average is $0.39. Reliance Global Group has a 1-year low of $3.49 and a 1-year high of $86.19.

Insider Buying and Selling at Reliance Global Group

In other news, CEO Ezra Beyman bought 10,941 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $4.59 per share, for a total transaction of $50,219.19. Following the completion of the acquisition, the chief executive officer now owns 17,875 shares in the company, valued at approximately $82,046.25. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On Reliance Global Group

An institutional investor recently bought a new position in Reliance Global Group stock. Armistice Capital LLC acquired a new position in shares of Reliance Global Group, Inc. (NASDAQ:RELI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 157,736 shares of the company’s stock, valued at approximately $85,000.

Reliance Global Group Company Profile

Reliance Global Group, Inc focuses in the acquisition and management of wholesale and retail insurance agencies in the United States. It provides agency services for insurance products in the healthcare and Medicare, personal and commercial, trucking, property and casualty, and insurance brokerage. The company was formerly known as Ethos Media Network, Inc and changed its name to Reliance Global Group, Inc in October 2018.