Cheer Holding, Inc. (NASDAQ:CHR) Short Interest Up 14.2% in October

Cheer Holding, Inc. (NASDAQ:CHR) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 19,300 shares, a growth of 14.2% from the October 15th total of 16,900 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 10,700 shares, the short-interest ratio is currently 1.8 days.

Cheer Trading Down 2.2 %

Shares of CHR opened at $2.62 on Monday. The company has a 50-day simple moving average of $2.77 and a 200-day simple moving average of $2.68. Cheer has a 52-week low of $2.18 and a 52-week high of $3.90.

Hedge Funds Weigh In On Cheer

A hedge fund recently raised its stake in Cheer stock. Shah Capital Management increased its stake in Cheer Holding, Inc. (NASDAQ:CHR) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,302,400 shares of the company’s stock after purchasing an additional 36,842 shares during the quarter. Cheer accounts for 0.7% of Shah Capital Management’s investment portfolio, making the stock its 14th largest position. Shah Capital Management owned approximately 12.95% of Cheer worth $3,321,000 as of its most recent filing with the Securities & Exchange Commission. 18.54% of the stock is currently owned by institutional investors and hedge funds.

About Cheer

Cheer Holding, Inc, through its subsidiaries, provides advertisement and content production services in the People’s Republic of China. It operates through Cheers APP Internet Business and Traditional Media Businesses segments. The company also engages in mobile and online advertising, and media and entertainment businesses.