Atlantic Avenue Acquisition Corp (NYSE:ASAQ) Sees Large Drop in Short Interest

Atlantic Avenue Acquisition Corp (NYSE:ASAQGet Rating) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 12,400 shares, a drop of 27.1% from the April 15th total of 17,000 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 30,500 shares, the short-interest ratio is presently 0.4 days.

NYSE:ASAQ opened at $9.88 on Friday. The company has a 50-day moving average of $9.87 and a 200-day moving average of $9.84. Atlantic Avenue Acquisition has a 52 week low of $9.56 and a 52 week high of $9.90.

Several institutional investors have recently made changes to their positions in the stock. Sculptor Capital LP acquired a new stake in shares of Atlantic Avenue Acquisition during the 1st quarter worth about $1,725,000. Piper Sandler & CO. acquired a new stake in shares of Atlantic Avenue Acquisition during the 1st quarter worth about $247,000. Dakota Wealth Management acquired a new stake in shares of Atlantic Avenue Acquisition during the 1st quarter worth about $100,000. HighTower Advisors LLC increased its position in shares of Atlantic Avenue Acquisition by 3.4% during the 1st quarter. HighTower Advisors LLC now owns 135,148 shares of the company’s stock worth $1,332,000 after purchasing an additional 4,396 shares in the last quarter. Finally, Karpus Management Inc. increased its position in Atlantic Avenue Acquisition by 0.6% in the 1st quarter. Karpus Management Inc. now owns 1,494,540 shares of the company’s stock valued at $14,736,000 after acquiring an additional 9,550 shares in the last quarter. Institutional investors and hedge funds own 84.96% of the company’s stock.

Atlantic Avenue Acquisition Company Profile (Get Rating)

Atlantic Avenue Acquisition Corp does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, recapitalization, or other similar business combination with one or more businesses. Atlantic Avenue Acquisition Corp was incorporated in 2020 and is based in Stamford, Connecticut.

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