Founder SPAC (NASDAQ:FOUNU) Sees Significant Decline in Short Interest

Founder SPAC (NASDAQ:FOUNUGet Rating) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 3,500 shares, a decrease of 23.9% from the April 15th total of 4,600 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 7,100 shares, the days-to-cover ratio is currently 0.5 days.

NASDAQ:FOUNU traded up $0.14 during mid-day trading on Monday, reaching $10.29. 200 shares of the company were exchanged, compared to its average volume of 10,304. Founder SPAC has a 12 month low of $10.00 and a 12 month high of $10.42. The company has a fifty day moving average of $10.21 and a 200 day moving average of $10.21.

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in shares of Founder SPAC in the 4th quarter valued at approximately $6,831,000. Sandia Investment Management LP acquired a new stake in Founder SPAC during the 4th quarter worth approximately $4,112,000. Silver Rock Financial LP acquired a new stake in Founder SPAC during the 4th quarter worth approximately $2,869,000. Castle Creek Arbitrage LLC acquired a new stake in Founder SPAC during the 4th quarter worth approximately $2,866,000. Finally, Citadel Advisors LLC acquired a new stake in Founder SPAC during the 4th quarter worth approximately $2,732,000.

About Founder SPAC (Get Rating)

Founder SPAC does not have significant operations. The company focuses on effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Founder SPAC was incorporated in 2021 and is based in Potomac, Maryland.

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