Newsmax (NYSE:NMAX) Trading Down 0.5% - Here's Why

Newsmax (NYSE:NMAX - Get Free Report)'s share price was down 0.5% during mid-day trading on Wednesday . The stock traded as low as $21.15 and last traded at $21.96. Approximately 324,052 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 4,222,922 shares. The stock had previously closed at $22.07.

Newsmax Stock Down 1.8 %

Hedge Funds Weigh In On Newsmax

Several hedge funds have recently modified their holdings of NMAX. Flagship Harbor Advisors LLC bought a new position in shares of Newsmax during the 1st quarter valued at about $551,000. Golden State Wealth Management LLC bought a new stake in Newsmax during the first quarter worth approximately $39,000. Allworth Financial LP acquired a new position in Newsmax in the first quarter worth approximately $89,000. Finally, CWM LLC bought a new position in shares of Newsmax in the first quarter valued at $47,000.

About Newsmax

Newsmax Inc is a holding company that owns 100% of the equity interests of its operating company Newsmax Media, Inc (“Newsmax Media”). Newsmax Media and its subsidiaries operate the businesses described in this Offering Circular. Newsmax Media has six wholly-owned subsidiaries: Newsmax Broadcasting, LLC, a Florida limited liability company (“Newsmax Broadcasting”), Crown Atlantic Insurance, LLC, a Florida limited liability company (“Crown Atlantic”), Humanix Publishing, LLC, a Florida limited liability company (“Humanix Publishing”), Medix Health LLC, a Florida limited liability company (“Medix Health”), ROI Media Strategies, LLC, a Florida limited liability company (“ROI Media Strategies”), and Newsmax Radio LLC, a Florida limited liability company (“Newsmax Radio,” and together with Newsmax Media, Newsmax Broadcasting, Crown Atlantic Insurance, Humanix Publishing, Medix Health, and ROI Media Strategies, the “Subsidiaries”).