G&P Acquisition Corp. (NYSE:GAPA) Sees Significant Growth in Short Interest

G&P Acquisition Corp. (NYSE:GAPAGet Rating) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 5,100 shares, a growth of 155.0% from the March 31st total of 2,000 shares. Based on an average daily volume of 29,800 shares, the days-to-cover ratio is currently 0.2 days.

Shares of GAPA opened at $9.96 on Friday. G&P Acquisition has a 1 year low of $9.66 and a 1 year high of $10.00. The company’s 50-day simple moving average is $9.92 and its 200-day simple moving average is $9.88.

Large investors have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC raised its holdings in G&P Acquisition by 230.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 33,029 shares of the company’s stock valued at $326,000 after acquiring an additional 23,029 shares in the last quarter. Berkley W R Corp raised its holdings in G&P Acquisition by 136.3% in the third quarter. Berkley W R Corp now owns 757,682 shares of the company’s stock valued at $7,478,000 after acquiring an additional 437,003 shares in the last quarter. Marshall Wace LLP acquired a new stake in G&P Acquisition in the third quarter valued at approximately $2,814,000. Cantor Fitzgerald Investment Adviser L.P. acquired a new stake in G&P Acquisition in the fourth quarter valued at approximately $1,962,000. Finally, Bank of America Corp DE acquired a new stake in G&P Acquisition during the fourth quarter worth approximately $785,000. 56.31% of the stock is currently owned by hedge funds and other institutional investors.

G&P Acquisition Company Profile (Get Rating)

G&P Acquisition Corp., a blank check company, intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses or entities. The company was founded in 2020 and is based in Newport, Rhode Island.

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