Newsmax (NYSE:NMAX) Shares Down 1% - Here's Why

Newsmax (NYSE:NMAX - Get Free Report)'s stock price fell 1% on Friday . The company traded as low as $23.21 and last traded at $23.13. 341,626 shares traded hands during trading, a decline of 91% from the average session volume of 3,968,007 shares. The stock had previously closed at $23.36.

Newsmax Trading Down 6.5 %

Institutional Trading of Newsmax

Several hedge funds have recently made changes to their positions in NMAX. Golden State Wealth Management LLC acquired a new stake in Newsmax during the 1st quarter worth approximately $39,000. CWM LLC purchased a new stake in Newsmax in the 1st quarter valued at $47,000. Allworth Financial LP purchased a new position in shares of Newsmax during the first quarter worth about $89,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new position in shares of Newsmax in the 1st quarter valued at approximately $217,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Newsmax during the first quarter worth $551,000.

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”).