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

Reservoir Media, Inc. (NASDAQ:RSVRW) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,200 shares, an increase of 71.4% from the February 13th total of 700 shares. Based on an average trading volume of 3,900 shares, the days-to-cover ratio is presently 0.3 days.

Reservoir Media Trading Up 4.5 %

Shares of RSVRW traded up $0.04 during mid-day trading on Friday, reaching $0.92. The company had a trading volume of 1,781 shares, compared to its average volume of 4,697. The company’s 50 day simple moving average is $0.94 and its 200 day simple moving average is $1.12. Reservoir Media has a 1-year low of $0.63 and a 1-year high of $1.60.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Reservoir Media stock. Wolverine Asset Management LLC increased its stake in Reservoir Media, Inc. (NASDAQ:RSVRW) by 94.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 85,144 shares of the company’s stock after buying an additional 41,337 shares during the quarter. Wolverine Asset Management LLC’s holdings in Reservoir Media were worth $123,000 at the end of the most recent quarter.

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.