Short Interest in Fintech Ecosystem Development Corp. (NASDAQ:FEXD) Expands By 18.2%

Fintech Ecosystem Development Corp. (NASDAQ:FEXD) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 2,600 shares, a growth of 18.2% from the August 15th total of 2,200 shares. Based on an average daily trading volume, of 9,500 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Insider Buying and Selling

In related news, major shareholder Mizuho Securities Usa Llc sold 201,537 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $10.71, for a total transaction of $2,158,461.27. Following the sale, the insider now directly owns 282,000 shares of the company’s stock, valued at $3,020,220. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Fintech Ecosystem Development

A number of large investors have recently added to or reduced their stakes in the stock. Periscope Capital Inc. raised its position in Fintech Ecosystem Development by 0.3% during the first quarter. Periscope Capital Inc. now owns 547,182 shares of the company’s stock worth $5,767,000 after acquiring an additional 1,400 shares during the period. Caas Capital Management LP raised its position in Fintech Ecosystem Development by 17.5% during the second quarter. Caas Capital Management LP now owns 32,230 shares of the company’s stock worth $340,000 after acquiring an additional 4,800 shares during the period. Centiva Capital LP raised its position in Fintech Ecosystem Development by 12.0% during the second quarter. Centiva Capital LP now owns 82,804 shares of the company’s stock worth $828,000 after acquiring an additional 8,902 shares during the period. Virtu Financial LLC acquired a new position in Fintech Ecosystem Development during the fourth quarter worth $105,000. Finally, Mizuho Securities USA LLC acquired a new stake in shares of Fintech Ecosystem Development in the first quarter valued at about $200,000.

Fintech Ecosystem Development Price Performance

Shares of NASDAQ FEXD opened at $10.60 on Tuesday. The company’s fifty day moving average price is $10.68 and its 200 day moving average price is $10.59. Fintech Ecosystem Development has a 1 year low of $10.04 and a 1 year high of $11.00.

About Fintech Ecosystem Development

Fintech Ecosystem Development 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 acquire companies in the financial technology development sector in South Asia.