Bank of New York Mellon Corp Purchases Shares of 522,844 Trump Media & Technology Group Corp. $DJT

Key Points

• Bank of New York Mellon purchased 522,844 shares of Trump Media & Technology Group, valued at approximately $4.05 million, giving it a 0.19% stake.
• Other institutional investors also increased their positions, while institutional investors and hedge funds collectively owned 4.29% of DJT at the latest reporting period.
• DJT shares were trading around $9.02 after declining 5.3%, and analyst sentiment remained negative, with a consensus rating of “Sell.”

Bank of New York Mellon Corp bought a new stake in shares of Trump Media & Technology Group Corp. (NASDAQ:DJT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 522,844 shares of the company's stock, valued at approximately $4,047,000. Bank of New York Mellon Corp owned approximately 0.19% of Trump Media & Technology Group at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in DJT. Captrust Financial Advisors lifted its position in Trump Media & Technology Group by 9.5% in the second quarter. Captrust Financial Advisors now owns 11,149 shares of the company's stock worth $201,000 after purchasing an additional 963 shares during the period. Rakuten Securities Inc. increased its position in shares of Trump Media & Technology Group by 40.7% during the 2nd quarter. Rakuten Securities Inc. now owns 3,466 shares of the company's stock valued at $63,000 after purchasing an additional 1,002 shares during the period. IFP Advisors Inc increased its position in shares of Trump Media & Technology Group by 21.9% during the 4th quarter. IFP Advisors Inc now owns 6,157 shares of the company's stock valued at $82,000 after purchasing an additional 1,105 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Trump Media & Technology Group by 8.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 14,242 shares of the company's stock worth $234,000 after buying an additional 1,115 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Trump Media & Technology Group by 15.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 8,675 shares of the company's stock worth $115,000 after buying an additional 1,174 shares in the last quarter. Institutional investors and hedge funds own 4.29% of the company's stock.

Trump Media & Technology Group Trading Down 5.3%

Shares of NASDAQ DJT opened at $9.02 on Friday. Trump Media & Technology Group Corp. has a one year low of $6.96 and a one year high of $17.97. The business has a 50-day moving average price of $9.09 and a two-hundred day moving average price of $9.16. The firm has a market capitalization of $2.51 billion, a PE ratio of -1.84 and a beta of 4.05.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DJT. Wall Street Zen lowered shares of Trump Media & Technology Group to a "strong sell" rating in a research report on Saturday. Weiss Ratings cut shares of Trump Media & Technology Group from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of "Sell".

About Trump Media & Technology Group

Trump Media & Technology Group NASDAQ: DJT is a U.S.-based digital media and technology company focused on social networking and content distribution. The firm’s flagship offering, Truth Social, is designed as an alternative social media platform with features for user-generated posts, direct messaging and community engagement. In addition to its core social network, TMTG has signaled plans for a subscription-based streaming service and other digital content ventures under the TMTG+ brand, aiming to expand its multimedia footprint.

Founded in October 2021 by former President Donald J.

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