Sierra Lake Acquisition Corp. (NASDAQ:SIER – Get Rating) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 6,200 shares, a decline of 38.0% from the June 15th total of 10,000 shares. Based on an average daily volume of 98,500 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company's shares are short sold.

Institutional Investors Weigh In On Sierra Lake Acquisition

Several hedge funds have recently modified their holdings of SIER. Aristeia Capital LLC purchased a new position in Sierra Lake Acquisition in the first quarter valued at about $19,178,000. Nomura Holdings Inc. boosted its stake in Sierra Lake Acquisition by 88,235.3% during the 1st quarter. Nomura Holdings Inc. now owns 1,501,700 shares of the company's stock valued at $14,823,000 after acquiring an additional 1,500,000 shares during the last quarter. Owl Creek Asset Management L.P. bought a new stake in shares of Sierra Lake Acquisition in the 4th quarter worth about $14,377,000. MMCAP International Inc. SPC bought a new position in shares of Sierra Lake Acquisition during the fourth quarter worth about $14,377,000. Finally, Radcliffe Capital Management L.P. bought a new position in shares of Sierra Lake Acquisition in the 4th quarter worth about $14,181,000.

Sierra Lake Acquisition Price Performance

NASDAQ:SIER traded down $0.03 during midday trading on Monday, hitting $9.90. 5 shares of the company were exchanged, compared to its average volume of 81,752. Sierra Lake Acquisition has a fifty-two week low of $9.65 and a fifty-two week high of $10.40. The company has a fifty day simple moving average of $9.89 and a 200 day simple moving average of $9.86.

Sierra Lake Acquisition Company Profile

Sierra Lake Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. Sierra Lake Acquisition Corp. was incorporated in 2021 and is based in Chicago, Illinois.

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