KludeIn I Acquisition Corp. (NASDAQ:INKA – Get Rating) was the recipient of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 2,000 shares, a decrease of 53.5% from the May 15th total of 4,300 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 34,600 shares, the short-interest ratio is presently 0.1 days.
Shares of NASDAQ INKA opened at $9.99 on Friday. The firm’s 50-day moving average price is $9.96 and its 200-day moving average price is $9.91. KludeIn I Acquisition has a 1-year low of $9.70 and a 1-year high of $10.12.
Institutional investors have recently modified their holdings of the stock. Karpus Management Inc. raised its stake in KludeIn I Acquisition by 26.0% during the 1st quarter. Karpus Management Inc. now owns 771,336 shares of the company’s stock worth $7,667,000 after buying an additional 159,341 shares during the period. Citadel Advisors LLC raised its position in shares of KludeIn I Acquisition by 117.1% during the third quarter. Citadel Advisors LLC now owns 694,947 shares of the company’s stock worth $6,852,000 after purchasing an additional 374,901 shares during the period. Saba Capital Management L.P. raised its position in shares of KludeIn I Acquisition by 1.5% during the fourth quarter. Saba Capital Management L.P. now owns 557,880 shares of the company’s stock worth $5,490,000 after purchasing an additional 8,150 shares during the period. Kohlberg Kravis Roberts & Co. L.P. lifted its holdings in shares of KludeIn I Acquisition by 7.5% in the 1st quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 375,265 shares of the company’s stock worth $3,730,000 after purchasing an additional 26,185 shares in the last quarter. Finally, Omni Event Management Ltd acquired a new stake in KludeIn I Acquisition in the 4th quarter valued at $3,201,000. 60.34% of the stock is owned by institutional investors and hedge funds.
KludeIn I Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses. It intends to focus on completing a business combination with a software or technology-enabled business serving consumers or enterprises in the United States.
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