Smith Micro Software, Inc. (NASDAQ:SMSI) Closed Well Above Its 50 Day Moving Average

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Company shares last traded at $1.17 quite a bit above the 50 day moving average of $1.06 and which is a tad above the 200 day moving average of $1.11. The 50 day moving average went up by +10.59% and the 200 day average moved up $0.06. (NASDAQ:SMSI) shares saw heavy trading volume with 95K shares changing hands by the end of trading on Wednesday. Volume was up 218.42% over the stocks average daily volume.

Traders are feeling more bearish lately considering the rise in short interest. The stock had a rise in short interest from August 15, 2017 to August 31, 2017 of 17.07%. Short shares increased from 218,472 to 255,764 over that period. The short-interest ratio increased to 9.0 and the percentage of shorted shares was 0.02% on August 31.

These funds have shifted positions in (SMSI). Citadel Advisors LLC divested its stake by selling 6,660 shares a decrease of 37.6%. Citadel Advisors LLC claims 11,047 shares worth $16,000. The total value of its holdings increased 23.1%.

Smith Micro Software, Inc. (Smith Micro), launched on May 25, 1995, is a provider of software solutions. The Company operates through two segments: Wireless and Graphics. The Company provides solutions and services to simplify and enhance the mobile experience. Using its device software, along with voice, video and messaging applications, the Company creates new opportunities to engage consumers and monetize mobile services. In addition to wireless and mobility software, the Company develops two-dimensional (2D) and three-dimensional (3D) graphics software used by professional artists, animators, illustrators and designers. The Company also offers Family Safety platform for family locator and parental controls..