Blue Water Acquisition Corp. III (NASDAQ:BLUWU) Shares Down 2.4% – Should You Sell?

Blue Water Acquisition Corp. III (NASDAQ:BLUWU)’s stock price traded down 2.4% during trading on Friday . The company traded as low as $10.38 and last traded at $10.25. 136 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,602 shares. The stock had previously closed at $10.50.

Blue Water Acquisition Corp. III Price Performance

The stock’s 50-day moving average price is $10.57 and its 200 day moving average price is $10.43.

Hedge Funds Weigh In On Blue Water Acquisition Corp. III

A number of institutional investors have recently modified their holdings of the company. AQR Arbitrage LLC bought a new position in shares of Blue Water Acquisition Corp. III in the second quarter valued at approximately $15,008,000. LMR Partners LLP acquired a new stake in shares of Blue Water Acquisition Corp. III in the second quarter worth $10,010,000. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in shares of Blue Water Acquisition Corp. III in the second quarter worth $10,010,000. Shaolin Capital Management LLC acquired a new stake in shares of Blue Water Acquisition Corp. III in the second quarter worth $9,084,000. Finally, Linden Advisors LP acquired a new stake in shares of Blue Water Acquisition Corp. III in the second quarter worth $9,004,000.

Blue Water Acquisition Corp. III Company Profile

Blue Water Acquisition Corp. III is a special purpose acquisition company (SPAC) incorporated in Delaware in March 2021 and listed on the Nasdaq under the ticker symbol BLUWU. As a blank‐check company, its primary objective is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities.

The company is sponsored by affiliates of Blue Water Acquisition Holdings III LLC and seeks to leverage its management team’s experience to target opportunities in sectors such as financial technology, consumer products and services, and business services.