Veea (NASDAQ:VEEA) Trading Down 4.4% – Here’s What Happened

Veea Inc. (NASDAQ:VEEA) shares fell 4.4% during trading on Monday . The company traded as low as $2.80 and last traded at $2.83. 19,064 shares were traded during trading, a decline of 34% from the average session volume of 28,779 shares. The stock had previously closed at $2.96.

Veea Trading Down 7.6 %

The stock has a fifty day simple moving average of $3.38.

Institutional Trading of Veea

A number of institutional investors have recently bought and sold shares of VEEA. Virtu Financial LLC acquired a new position in shares of Veea in the 3rd quarter valued at $100,000. Northern Trust Corp acquired a new position in shares of Veea in the 4th quarter valued at $120,000. Geode Capital Management LLC acquired a new position in shares of Veea in the 4th quarter valued at $638,000. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Veea in the 3rd quarter valued at $11,106,000. Institutional investors and hedge funds own 25.88% of the company’s stock.

About Veea

Veea Inc provides computing, multiaccess multiprotocol communications, edge storage, and cybersecurity solutions. The company offers multiaccess edge computing (MEC) platform that redefines connectivity and computing at the edge by integrating functions of servers, network attached storage (NAS), routers, firewalls, Wi-Fi Access Points, IoT gateways, and 4G and 5G connections; and Veea Edge Platform enables direct connections from the optical fiber, cellular, and satellite networks.