Churchill Capital Corp IX/Cayman (NASDAQ:CCIXU) Trading Down 3.1% – Time to Sell?

Shares of Churchill Capital Corp IX/Cayman (NASDAQ:CCIXU) fell 3.1% on Friday . The company traded as low as $10.50 and last traded at $10.50. 400 shares were traded during trading, a decline of 95% from the average session volume of 8,300 shares. The stock had previously closed at $10.84.

Churchill Capital Corp IX/Cayman Price Performance

The business’s 50-day moving average price is $10.69 and its 200 day moving average price is $10.76.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Churchill Capital Corp IX/Cayman stock. Clear Street LLC boosted its holdings in shares of Churchill Capital Corp IX/Cayman (NASDAQ:CCIXU) by 563.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,100 shares of the company’s stock after buying an additional 2,633 shares during the period. Clear Street LLC’s holdings in Churchill Capital Corp IX/Cayman were worth $33,000 as of its most recent SEC filing.

About Churchill Capital Corp IX/Cayman

Churchill Capital Corp IX/Cayman (NASDAQ: CCIXU) is a special purpose acquisition company (SPAC) organized under the laws of the Cayman Islands. The blank-check company’s primary objective is to effect a business combination with one or more operating businesses or assets, with a particular focus on sectors positioned for rapid growth and innovation. Units of the SPAC trade publicly on the NASDAQ under the ticker CCIXU, providing investors with exposure to its search for an attractive merger candidate.

Sponsored by Churchill Capital Corp, the SPAC series founded and led by Michael Klein—formerly a senior investment banker at Citigroup—Churchill Capital Corp IX aims to leverage its sponsors’ capital markets expertise and industry relationships.