Short Interest in Reservoir Media, Inc. (NASDAQ:RSVRW) Drops By 53.3%

Reservoir Media, Inc. (NASDAQ:RSVRW) saw a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 700 shares, a drop of 53.3% from the January 31st total of 1,500 shares. Based on an average daily trading volume, of 3,500 shares, the days-to-cover ratio is presently 0.2 days.

Reservoir Media Stock Performance

Shares of RSVRW traded up $0.25 during midday trading on Friday, hitting $1.21. 17,015 shares of the stock traded hands, compared to its average volume of 5,730. Reservoir Media has a 1-year low of $0.63 and a 1-year high of $1.60. The business’s 50 day moving average price is $1.01 and its two-hundred day moving average price is $1.12.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Reservoir Media stock. Wolverine Asset Management LLC grew its holdings in shares of Reservoir Media, Inc. (NASDAQ:RSVRW) by 94.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,144 shares of the company’s stock after buying an additional 41,337 shares during the period. Wolverine Asset Management LLC’s holdings in Reservoir Media were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

About Reservoir Media

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.