Short Interest in Burtech Acquisition Corp. (NASDAQ:BRKH) Drops By 55.2%

Burtech Acquisition Corp. (NASDAQ:BRKH) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 4,300 shares, a decline of 55.2% from the October 15th total of 9,600 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 15,900 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On Burtech Acquisition

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Spartan Fund Management Inc. bought a new position in shares of Burtech Acquisition in the third quarter worth about $1,693,000. Clear Street LLC raised its stake in shares of Burtech Acquisition by 141.8% in the second quarter. Clear Street LLC now owns 3,206 shares of the company’s stock worth $36,000 after acquiring an additional 1,880 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its stake in shares of Burtech Acquisition by 3.2% in the third quarter. Mizuho Securities USA LLC now owns 477,327 shares of the company’s stock worth $5,360,000 after acquiring an additional 14,843 shares during the last quarter. 97.12% of the stock is currently owned by institutional investors and hedge funds.

Burtech Acquisition Price Performance

NASDAQ:BRKH remained flat at $11.41 on Thursday. 34 shares of the company’s stock were exchanged, compared to its average volume of 3,736. Burtech Acquisition has a 52-week low of $10.59 and a 52-week high of $11.41. The stock’s fifty day simple moving average is $11.33 and its two-hundred day simple moving average is $11.22.

About Burtech Acquisition

Burtech Acquisition Corp. does not have significant operations. The company focuses to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire a business, which operates in the retail, lifestyle, hospitality, technology, and real estate markets.