ACE Convergence Acquisition Corp. (NASDAQ:ACEV) Short Interest Update

ACE Convergence Acquisition Corp. (NASDAQ:ACEVGet Rating) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 253,600 shares, an increase of 56.4% from the April 30th total of 162,200 shares. Based on an average trading volume of 59,300 shares, the short-interest ratio is presently 4.3 days.

Several large investors have recently bought and sold shares of ACEV. Morgan Stanley lifted its stake in shares of ACE Convergence Acquisition by 2,495,900.0% in the 1st quarter. Morgan Stanley now owns 24,960 shares of the company’s stock valued at $249,000 after purchasing an additional 24,959 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of ACE Convergence Acquisition in the 3rd quarter valued at approximately $2,406,000. Sculptor Capital LP bought a new stake in shares of ACE Convergence Acquisition in the 3rd quarter valued at approximately $638,000. Weiss Asset Management LP lifted its stake in shares of ACE Convergence Acquisition by 63.2% in the 3rd quarter. Weiss Asset Management LP now owns 759,026 shares of the company’s stock valued at $7,522,000 after purchasing an additional 294,016 shares during the last quarter. Finally, Periscope Capital Inc. bought a new stake in shares of ACE Convergence Acquisition in the 3rd quarter valued at approximately $3,688,000. 60.34% of the stock is owned by institutional investors and hedge funds.

Shares of ACE Convergence Acquisition stock opened at $10.03 on Friday. The stock has a 50 day moving average of $10.04 and a 200 day moving average of $10.00. ACE Convergence Acquisition has a 12 month low of $9.63 and a 12 month high of $10.37.

About ACE Convergence Acquisition (Get Rating)

ACE Convergence Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination with one or more businesses. It intends to focus on businesses in the IT infrastructure software and semiconductor sectors.

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