PowerUp Acquisition (NASDAQ:PWUP) Shares Down 4.4% – Should You Sell?

PowerUp Acquisition Corp. (NASDAQ:PWUP) fell 4.4% on Wednesday . The company traded as low as $0.56 and last traded at $0.61. 193,257 shares traded hands during trading, an increase of 1,700% from the average session volume of 10,736 shares. The stock had previously closed at $0.64.

PowerUp Acquisition Trading Down 4.4 %

The stock’s 50 day simple moving average is $7.54 and its two-hundred day simple moving average is $10.18.

Hedge Funds Weigh In On PowerUp Acquisition

An institutional investor recently bought a new position in PowerUp Acquisition stock. Harraden Circle Investments LLC purchased a new stake in shares of PowerUp Acquisition Corp. (NASDAQ:PWUP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 449,783 shares of the company’s stock, valued at approximately $5,173,000. PowerUp Acquisition comprises approximately 4.7% of Harraden Circle Investments LLC’s holdings, making the stock its 8th biggest position. Harraden Circle Investments LLC owned 5.79% of PowerUp Acquisition as of its most recent filing with the Securities & Exchange Commission. 19.17% of the stock is currently owned by institutional investors.

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.