ACE Convergence Acquisition Corp. (NASDAQ:ACEV – Get Rating) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 80,300 shares, a decline of 71.3% from the March 15th total of 280,000 shares. Based on an average daily volume of 57,900 shares, the short-interest ratio is currently 1.4 days. Approximately 0.4% of the shares of the company are sold short.
Several large investors have recently made changes to their positions in the company. Saba Capital Management L.P. boosted its stake in shares of ACE Convergence Acquisition by 7.0% during the 4th quarter. Saba Capital Management L.P. now owns 17,826 shares of the company’s stock worth $178,000 after acquiring an additional 1,160 shares in the last quarter. Formidable Asset Management LLC boosted its stake in shares of ACE Convergence Acquisition by 5.5% during the 3rd quarter. Formidable Asset Management LLC now owns 79,298 shares of the company’s stock worth $786,000 after acquiring an additional 4,142 shares in the last quarter. Westchester Capital Management LLC boosted its stake in shares of ACE Convergence Acquisition by 1.7% during the 3rd quarter. Westchester Capital Management LLC now owns 404,711 shares of the company’s stock worth $4,010,000 after acquiring an additional 6,592 shares in the last quarter. Magnetar Financial LLC boosted its stake in shares of ACE Convergence Acquisition by 8.3% during the 3rd quarter. Magnetar Financial LLC now owns 131,438 shares of the company’s stock worth $1,303,000 after acquiring an additional 10,111 shares in the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of ACE Convergence Acquisition during the 3rd quarter worth approximately $107,000. 61.28% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ ACEV opened at $10.07 on Friday. The business’s 50 day moving average is $10.04 and its two-hundred day moving average is $9.98. ACE Convergence Acquisition has a 12-month low of $9.82 and a 12-month high of $10.37.
ACE Convergence Acquisition Corp. does not have significant operations. It focuses on effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination with one or more businesses. It intends to focus on businesses in the IT infrastructure software and semiconductor sectors.
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