After two straight months of declines, it appears that Galaxy Digital Holdings (TSX: GLXY) has managed to stop the bleeding from its current assets under management, if only barely. The firm last night provided its monthly update to its AUM figures, indicating that it has finally seen positive movement in its assets held.
Assets under management as of February 28 hit $2,410.1 million for the company, a 3.7% increase over January’s figure of $2,324.3 million. The increase follows an 18.9% decline in assets managed during the month of January, which followed a 17.2% decline exhibited in December.
The firms assets managed currently sit 30.6% off the high of $3,471.0 million managed by the company at the end of November.
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The 3.7% increase seen during the month of February follows the price of bitcoin rallying 12.18% during the month, after having began the month at $38,483 and then closing it out at $43,178. Much of the price appreciation is believed to have been driven by Russian actions with Ukraine.
Data on current assets under management is said to be preliminary in nature.
Galaxy Digital Holdings last traded at $17.22 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
