Pine Technology Acquisition Corp. (NASDAQ:PTOC – Get Rating) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 5,600 shares, a drop of 16.4% from the March 31st total of 6,700 shares. Based on an average daily trading volume, of 35,100 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company’s stock are sold short.
Shares of NASDAQ:PTOC opened at $9.80 on Wednesday. The company’s 50-day moving average is $9.79. Pine Technology Acquisition has a one year low of $9.60 and a one year high of $10.00.
Several institutional investors and hedge funds have recently bought and sold shares of PTOC. Aristeia Capital LLC purchased a new position in shares of Pine Technology Acquisition in the fourth quarter valued at $14,774,000. First Pacific Advisors LP purchased a new position in Pine Technology Acquisition in the 4th quarter valued at about $11,519,000. 683 Capital Management LLC acquired a new stake in shares of Pine Technology Acquisition during the fourth quarter valued at about $9,850,000. Bank of Montreal Can purchased a new stake in shares of Pine Technology Acquisition during the fourth quarter worth about $9,062,000. Finally, Periscope Capital Inc. acquired a new position in shares of Pine Technology Acquisition in the third quarter worth about $7,716,000. Institutional investors own 88.81% of the company’s stock.
Pine Technology Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the insurance-related technology sector. The company was incorporated in 2020 and is based in Aurora, Ohio.
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