Traders Purchase Large Volume of Call Options on AltC Acquisition (NYSE:ALCC)

AltC Acquisition Corp. (NYSE:ALCC) was the target of some unusual options trading on Thursday. Stock investors purchased 6,882 call options on the stock. This represents an increase of 42% compared to the average volume of 4,846 call options.

Hedge Funds Weigh In On AltC Acquisition

A number of institutional investors have recently modified their holdings of the company. Meteora Capital LLC grew its holdings in AltC Acquisition by 1,303.4% in the 3rd quarter. Meteora Capital LLC now owns 3,480,078 shares of the company’s stock valued at $36,019,000 after buying an additional 3,232,095 shares during the period. MMCAP International Inc. SPC increased its position in AltC Acquisition by 80.8% during the third quarter. MMCAP International Inc. SPC now owns 1,084,669 shares of the company’s stock worth $11,226,000 after purchasing an additional 484,669 shares during the last quarter. Readystate Asset Management LP purchased a new position in AltC Acquisition during the fourth quarter worth approximately $3,735,000. Citigroup Inc. purchased a new position in AltC Acquisition during the third quarter worth approximately $2,588,000. Finally, Levin Capital Strategies L.P. boosted its holdings in shares of AltC Acquisition by 193.5% in the 3rd quarter. Levin Capital Strategies L.P. now owns 267,100 shares of the company’s stock valued at $2,764,000 after purchasing an additional 176,100 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

AltC Acquisition Stock Performance

NYSE:ALCC opened at $18.23 on Friday. AltC Acquisition has a 12-month low of $10.27 and a 12-month high of $18.80. The company’s 50-day moving average is $12.28 and its two-hundred day moving average is $11.15.

AltC Acquisition Company Profile

AltC Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other business combination with one or more businesses. The company was formerly known as Churchill Capital Corp VIII and changed its name to AltC Acquisition Corp.