Provident Acquisition Corp. (NASDAQ:PAQC) Short Interest Up 493.3% in March

Provident Acquisition Corp. (NASDAQ:PAQCGet Rating) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 8,900 shares, a growth of 493.3% from the March 15th total of 1,500 shares. Based on an average daily volume of 63,900 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

Hedge funds have recently bought and sold shares of the business. Cohanzick Management LLC bought a new stake in shares of Provident Acquisition during the 3rd quarter worth $49,000. DeepCurrents Investment Group LLC bought a new stake in shares of Provident Acquisition during the 4th quarter worth $140,000. Geode Capital Management LLC boosted its holdings in shares of Provident Acquisition by 13.5% during the 4th quarter. Geode Capital Management LLC now owns 20,322 shares of the company’s stock worth $200,000 after buying an additional 2,423 shares during the period. Toroso Investments LLC bought a new stake in shares of Provident Acquisition during the 4th quarter worth $215,000. Finally, Basso Capital Management L.P. raised its stake in Provident Acquisition by 77.5% during the 3rd quarter. Basso Capital Management L.P. now owns 29,985 shares of the company’s stock valued at $292,000 after purchasing an additional 13,093 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

PAQC remained flat at $$9.86 on Tuesday. 90 shares of the company were exchanged, compared to its average volume of 20,973. The stock has a 50-day moving average price of $9.81. Provident Acquisition has a 52-week low of $9.58 and a 52-week high of $10.05. The stock has a market capitalization of $246.50 million and a PE ratio of 8.36.

Provident Acquisition Company Profile (Get Rating)

Provident Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Central, Hong Kong.

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