Powered Brands (NASDAQ:POW – Get Rating) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 4,600 shares, a decrease of 49.5% from the March 31st total of 9,100 shares. Based on an average trading volume of 43,900 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are short sold.
NASDAQ POW traded down $0.01 on Friday, reaching $9.84. The company had a trading volume of 53,201 shares, compared to its average volume of 89,463. The firm has a 50-day moving average of $9.81 and a 200-day moving average of $9.79. Powered Brands has a 1 year low of $9.61 and a 1 year high of $9.99.
A number of hedge funds and other institutional investors have recently modified their holdings of POW. Citadel Advisors LLC increased its holdings in shares of Powered Brands by 77.3% during the third quarter. Citadel Advisors LLC now owns 1,438,215 shares of the company’s stock valued at $14,152,000 after purchasing an additional 626,989 shares during the period. Owl Creek Asset Management L.P. raised its stake in shares of Powered Brands by 1,336.5% during the 4th quarter. Owl Creek Asset Management L.P. now owns 456,800 shares of the company’s stock worth $4,472,000 after purchasing an additional 425,000 shares in the last quarter. Cantor Fitzgerald Investment Adviser L.P. purchased a new stake in shares of Powered Brands during the 4th quarter worth about $2,254,000. Omni Event Management Ltd bought a new position in shares of Powered Brands in the 4th quarter valued at approximately $2,062,000. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Powered Brands by 230.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 203,551 shares of the company’s stock valued at $1,993,000 after acquiring an additional 141,916 shares in the last quarter. 68.61% of the stock is currently owned by hedge funds and other institutional investors.
Powered Brands does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.
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