McLaren Technology Acquisition Corp. (NASDAQ:MLAI) Sees Significant Decline in Short Interest

McLaren Technology Acquisition Corp. (NASDAQ:MLAIGet Rating) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 25,300 shares, a drop of 16.8% from the August 15th total of 30,400 shares. Based on an average daily trading volume, of 30,200 shares, the short-interest ratio is presently 0.8 days. Approximately 0.1% of the company’s shares are short sold.

McLaren Technology Acquisition Stock Performance

NASDAQ MLAI opened at $10.03 on Monday. McLaren Technology Acquisition has a one year low of $9.80 and a one year high of $10.55. The company’s 50 day moving average price is $10.04 and its 200 day moving average price is $10.00.

Institutional Trading of McLaren Technology Acquisition

Several large investors have recently bought and sold shares of MLAI. Radcliffe Capital Management L.P. acquired a new stake in McLaren Technology Acquisition in the fourth quarter valued at approximately $2,976,000. Karpus Management Inc. acquired a new stake in McLaren Technology Acquisition in the fourth quarter valued at approximately $7,389,000. Starboard Value LP acquired a new stake in McLaren Technology Acquisition in the fourth quarter valued at approximately $7,252,000. Saba Capital Management L.P. acquired a new stake in McLaren Technology Acquisition in the fourth quarter valued at approximately $16,041,000. Finally, Exos Asset Management LLC acquired a new stake in shares of McLaren Technology Acquisition during the fourth quarter worth approximately $473,000. Institutional investors and hedge funds own 62.68% of the company’s stock.

About McLaren Technology Acquisition

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McLaren Technology Acquisition Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to focus on companies within the banking, financial services, and insurance sector that leverage artificial intelligence, machine learning, digital, technology, and fintech.

Further Reading

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