Sports Ventures Acquisition Corp. (NASDAQ:AKIC – Get Rating) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 3,500 shares, an increase of 66.7% from the April 15th total of 2,100 shares. Based on an average daily trading volume, of 58,200 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.
AKIC stock opened at $9.90 on Friday. Sports Ventures Acquisition has a 12 month low of $9.61 and a 12 month high of $9.99. The company’s 50-day moving average price is $9.87 and its two-hundred day moving average price is $9.82.
A number of hedge funds have recently added to or reduced their stakes in the business. Glazer Capital LLC increased its holdings in Sports Ventures Acquisition by 226.2% in the 3rd quarter. Glazer Capital LLC now owns 1,709,674 shares of the company’s stock valued at $16,635,000 after buying an additional 1,185,561 shares during the period. Citadel Advisors LLC increased its holdings in Sports Ventures Acquisition by 60.4% in the 3rd quarter. Citadel Advisors LLC now owns 1,111,519 shares of the company’s stock valued at $10,849,000 after buying an additional 418,767 shares during the period. Periscope Capital Inc. boosted its stake in shares of Sports Ventures Acquisition by 16.5% in the 3rd quarter. Periscope Capital Inc. now owns 812,500 shares of the company’s stock valued at $7,922,000 after purchasing an additional 115,000 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Sports Ventures Acquisition by 4.7% in the 4th quarter. Marshall Wace LLP now owns 787,170 shares of the company’s stock valued at $7,667,000 after purchasing an additional 35,355 shares in the last quarter. Finally, Anson Funds Management LP acquired a new stake in shares of Sports Ventures Acquisition in the 1st quarter valued at approximately $6,732,000.
Sports Ventures Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on businesses operating in the sports, media, and entertainment sectors, including traditional and emerging sports, as well as film and television production and infrastructure.
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