PowerUp Acquisition (NASDAQ:PWUP) Trading Up 9.1% – Time to Buy?

PowerUp Acquisition Corp. (NASDAQ:PWUP) shot up 9.1% on Thursday . The company traded as high as $0.36 and last traded at $0.35. 1,639,031 shares were traded during mid-day trading, an increase of 48,483% from the average session volume of 3,374 shares. The stock had previously closed at $0.32.

PowerUp Acquisition Stock Performance

The business’s 50 day simple moving average is $0.33 and its 200 day simple moving average is $3.40.

Institutional Investors Weigh In On PowerUp Acquisition

An institutional investor recently bought a new position in PowerUp Acquisition stock. Harraden Circle Investments LLC purchased a new position in shares of PowerUp Acquisition Corp. (NASDAQ:PWUP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 449,783 shares of the company’s stock, valued at approximately $5,173,000. PowerUp Acquisition makes up 4.7% of Harraden Circle Investments LLC’s portfolio, making the stock its 8th biggest position. Harraden Circle Investments LLC owned approximately 5.79% of PowerUp Acquisition at the end of the most recent reporting period. Institutional investors and hedge funds own 19.17% of the company’s stock.

PowerUp Acquisition Company Profile

PowerUp Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on video gaming, gaming adjacent, and metaverse businesses.