The InterGroup Co. (NASDAQ:INTG) Sees Significant Decline in Short Interest

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The InterGroup Co. (NASDAQ:INTG) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,700 shares, a drop of 29.2% from the March 15th total of 2,400 shares. Based on an average trading volume of 2,300 shares, the short-interest ratio is presently 0.7 days. Currently, 0.2% of the shares of the company are short sold.

INTG stock traded up $0.90 during mid-day trading on Monday, hitting $37.90. 1,031 shares of the company were exchanged, compared to its average volume of 2,363. The business has a 50 day simple moving average of $38.55 and a 200-day simple moving average of $34.02. The InterGroup has a 1-year low of $25.00 and a 1-year high of $53.87.

A hedge fund recently bought a new stake in The InterGroup stock. International Assets Investment Management LLC purchased a new stake in The InterGroup Co. (NASDAQ:INTG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,000 shares of the financial services provider’s stock, valued at approximately $32,000. Hedge funds and other institutional investors own 8.70% of the company’s stock.

About The InterGroup

The InterGroup Corporation, through its subsidiaries, operates a hotel under the Hilton San Francisco Financial District name located in San Francisco, California. It operates through three segments: Hotel Operations, Real Estate Operations, and Investment Transactions. The company's hotel consists of 544 guest rooms and luxury suites with approximately 22,000 square feet of meeting room space, grand ballroom, 5 level underground parking garage, pedestrian bridge, and Chinese culture center.

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