Altitude Acquisition Corp. (NASDAQ:ALTU) Sees Large Decrease in Short Interest

Altitude Acquisition Corp. (NASDAQ:ALTU – Get Rating) was the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 3,700 shares, a drop of 51.9% from the April 15th total of 7,700 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 12,900 shares, the short-interest ratio is currently 0.3 days.

Altitude Acquisition Price Performance

Shares of Altitude Acquisition stock opened at $10.10 on Thursday. The firm’s 50 day moving average price is $10.08 and its 200-day moving average price is $10.00. Altitude Acquisition has a 52-week low of $9.59 and a 52-week high of $10.42.

Hedge Funds Weigh In On Altitude Acquisition

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can boosted its position in shares of Altitude Acquisition by 45.3% during the 1st quarter. Bank of Montreal Can now owns 50,000 shares of the company’s stock valued at $498,000 after acquiring an additional 15,584 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Altitude Acquisition during the 1st quarter valued at about $498,000. Hsbc Holdings PLC boosted its position in shares of Altitude Acquisition by 117.8% during the 1st quarter. Hsbc Holdings PLC now owns 809,564 shares of the company’s stock valued at $8,063,000 after acquiring an additional 437,900 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Altitude Acquisition by 62.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 313,139 shares of the company’s stock valued at $3,116,000 after acquiring an additional 120,539 shares during the last quarter. Finally, Fir Tree Capital Management LP acquired a new position in shares of Altitude Acquisition during the 1st quarter valued at about $1,499,000. 24.40% of the stock is owned by hedge funds and other institutional investors.

Altitude Acquisition Company Profile

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Altitude Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on travel, travel technology and travel-related businesses.