Short Interest in Avanti Acquisition Corp. (NYSE:AVAN) Drops By 42.6%

Avanti Acquisition Corp. (NYSE:AVANGet Rating) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 21,700 shares, a drop of 42.6% from the March 31st total of 37,800 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 120,400 shares, the short-interest ratio is currently 0.2 days.

NYSE AVAN remained flat at $$9.90 during trading hours on Friday. The company had a trading volume of 470,501 shares, compared to its average volume of 144,354. The firm has a fifty day moving average of $9.87 and a 200-day moving average of $9.84. Avanti Acquisition has a fifty-two week low of $9.68 and a fifty-two week high of $10.02.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVAN. Omni Event Management Ltd acquired a new stake in Avanti Acquisition in the fourth quarter valued at approximately $2,619,000. Periscope Capital Inc. grew its stake in Avanti Acquisition by 14.7% in the third quarter. Periscope Capital Inc. now owns 1,951,600 shares of the company’s stock valued at $19,107,000 after acquiring an additional 249,900 shares during the period. Saba Capital Management L.P. grew its stake in Avanti Acquisition by 39.3% in the fourth quarter. Saba Capital Management L.P. now owns 543,313 shares of the company’s stock valued at $5,335,000 after acquiring an additional 153,400 shares during the period. Dark Forest Capital Management LP acquired a new stake in Avanti Acquisition in the third quarter valued at approximately $1,383,000. Finally, Beryl Capital Management LLC grew its stake in Avanti Acquisition by 26.5% in the third quarter. Beryl Capital Management LLC now owns 619,845 shares of the company’s stock valued at $6,068,000 after acquiring an additional 130,000 shares during the period. 58.47% of the stock is owned by institutional investors and hedge funds.

Avanti Acquisition Company Profile (Get Rating)

Avanti Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2020 and is based in Grand Cayman, the Cayman Islands.

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