Short Interest in Cartica Acquisition Corp (NASDAQ:CITE) Rises By 44.4%

Posted by Cynthia Vaughn on Nov 16th, 2024

Cartica Acquisition Corp (NASDAQ:CITE – Get Free Report) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,300 shares, a growth of 44.4% from the October 15th total of 900 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 5,000 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On Cartica Acquisition

Several hedge funds and other institutional investors have recently modified their holdings of CITE. Cowen AND Company LLC purchased a new position in shares of Cartica Acquisition during the second quarter valued at about $2,673,000. Berkley W R Corp grew its holdings in Cartica Acquisition by 42.0% in the first quarter. Berkley W R Corp now owns 623,862 shares of the company’s stock worth $6,862,000 after purchasing an additional 184,461 shares during the period. Wolverine Asset Management LLC grew its holdings in Cartica Acquisition by 42.1% in the second quarter. Wolverine Asset Management LLC now owns 212,958 shares of the company’s stock worth $2,409,000 after purchasing an additional 63,092 shares during the period. K2 Principal Fund L.P. purchased a new stake in Cartica Acquisition in the first quarter worth about $452,000. Finally, Clear Street LLC grew its holdings in Cartica Acquisition by 25,004.2% in the second quarter. Clear Street LLC now owns 29,623 shares of the company’s stock worth $335,000 after purchasing an additional 29,505 shares during the period. Hedge funds and other institutional investors own 42.21% of the company’s stock.

Cartica Acquisition Stock Performance

Cartica Acquisition stock traded down $0.02 during mid-day trading on Friday, hitting $11.55. The company’s stock had a trading volume of 100,842 shares, compared to its average volume of 27,272. The business has a 50 day moving average price of $11.48 and a 200-day moving average price of $11.36. Cartica Acquisition has a 12 month low of $10.79 and a 12 month high of $12.25.

About Cartica Acquisition

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Cartica Acquisition Corp does not have any 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 or entities. It intends to identify and complete a business combination in the technology sector.