StoneBridge Acquisition Co. (NASDAQ:APAC) Sees Large Increase in Short Interest

StoneBridge Acquisition Co. (NASDAQ:APACGet Rating) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 8,200 shares, a growth of 9.3% from the August 15th total of 7,500 shares. Based on an average daily volume of 30,200 shares, the short-interest ratio is currently 0.3 days.

StoneBridge Acquisition Stock Performance

NASDAQ:APAC opened at $10.05 on Monday. StoneBridge Acquisition has a 12-month low of $9.78 and a 12-month high of $10.20. The stock’s fifty day simple moving average is $10.03 and its 200-day simple moving average is $9.99.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in shares of StoneBridge Acquisition by 47.9% in the 1st quarter. Bank of America Corp DE now owns 8,340 shares of the company’s stock worth $83,000 after purchasing an additional 2,700 shares during the last quarter. OLD Mission Capital LLC lifted its holdings in StoneBridge Acquisition by 104.7% during the second quarter. OLD Mission Capital LLC now owns 44,936 shares of the company’s stock worth $448,000 after acquiring an additional 22,984 shares in the last quarter. Millennium Management LLC lifted its holdings in StoneBridge Acquisition by 2.2% during the second quarter. Millennium Management LLC now owns 1,113,980 shares of the company’s stock worth $11,129,000 after acquiring an additional 23,980 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in StoneBridge Acquisition during the first quarter worth about $241,000. Finally, Prelude Capital Management LLC bought a new position in StoneBridge Acquisition during the first quarter worth about $337,000. 66.26% of the stock is currently owned by institutional investors.

About StoneBridge Acquisition

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StoneBridge Acquisition Corporation does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.

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