QMMM (NASDAQ:QMMM) Trading Up 7.2% - Here's Why

Key Points

• QMMM Holdings Limited stock rose by 7.2%, reaching a high of $2.70, with approximately 7.5 million shares traded, significantly above its average volume.
• A hedge fund, XTX Topco Ltd, acquired 36,504 shares of QMMM stock valued at around $47,000, representing a new stake in the company.
• QMMM specializes in digital advertising services, providing interactive design and virtual technologies for various commercial campaigns.

QMMM Holdings Limited (NASDAQ:QMMM - Get Free Report)'s stock price was up 7.2% during trading on Wednesday . The company traded as high as $2.70 and last traded at $2.68. Approximately 7,530,134 shares were traded during mid-day trading, an increase of 54% from the average daily volume of 4,904,414 shares. The stock had previously closed at $2.50.

QMMM Price Performance

The stock's 50-day simple moving average is $1.82 and its 200 day simple moving average is $1.27.

Institutional Investors Weigh In On QMMM

A hedge fund recently bought a new stake in QMMM stock. XTX Topco Ltd bought a new stake in QMMM Holdings Limited (NASDAQ:QMMM - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 36,504 shares of the company's stock, valued at approximately $47,000. XTX Topco Ltd owned about 0.21% of QMMM at the end of the most recent reporting period.

About QMMM

QMMM Holdings Ltd. engages in the provision of digital advertising services. It offers interactive design, animation, art-tech and virtual technologies used in commercial campaigns. It has worked with domestic and international banks, real estate developers, amusement parks, international athletic apparel, footwear brands, luxury cosmetic products, and international brands.