Short Interest in Swvl Holdings Corp. (NASDAQ:SWVL) Decreases By 32.4%

Swvl Holdings Corp. (NASDAQ:SWVL) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 93,900 shares, a drop of 32.4% from the December 15th total of 139,000 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily volume of 40,300 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Investors Weigh In On Swvl

A hedge fund recently bought a new stake in Swvl stock. Connective Capital Management LLC bought a new position in shares of Swvl Holdings Corp. (NASDAQ:SWVL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,347 shares of the company’s stock, valued at approximately $123,000. Swvl comprises about 0.2% of Connective Capital Management LLC’s holdings, making the stock its 27th largest position. Connective Capital Management LLC owned 0.28% of Swvl at the end of the most recent reporting period. Institutional investors own 34.03% of the company’s stock.

Swvl Stock Performance

Shares of SWVL stock traded up $0.35 during mid-day trading on Wednesday, reaching $5.10. 23,114 shares of the stock traded hands, compared to its average volume of 29,879. The stock’s fifty day simple moving average is $5.80 and its two-hundred day simple moving average is $5.32. Swvl has a 1-year low of $2.55 and a 1-year high of $21.94.

About Swvl

Swvl Holdings Corp. provides mass transit ridesharing services. It offers B2C Swvl Retail, which provides riders with a network of minibuses and other vehicles running on fixed or semi-fixed routes within cities; Swvl Travel that allows riders to book rides on long-distance intercity routes on vehicle available through the Swvl platform or through third-party services; and Swvl Business, a transport as a service enterprise product for businesses, schools, municipal transit agencies, and other customers.