Global Star Acquisition (NASDAQ:GLST) Trading Down 5.2% – Should You Sell?

Global Star Acquisition, Inc. (NASDAQ:GLST) was down 5.2% during trading on Monday . The company traded as low as $11.37 and last traded at $11.37. Approximately 109 shares were traded during trading, a decline of 99% from the average daily volume of 21,219 shares. The stock had previously closed at $11.99.

Global Star Acquisition Trading Down 5.2 %

The company’s fifty day simple moving average is $11.50 and its two-hundred day simple moving average is $11.26.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Global Star Acquisition stock. SkyView Investment Advisors LLC acquired a new position in shares of Global Star Acquisition, Inc. (NASDAQ:GLST) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 238,000 shares of the company’s stock, valued at approximately $2,647,000. SkyView Investment Advisors LLC owned about 8.17% of Global Star Acquisition at the end of the most recent reporting period. Hedge funds and other institutional investors own 62.18% of the company’s stock.

About Global Star Acquisition

Global Star Acquisition, Inc does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in McLean, Virginia.