Accelerate Acquisition Corp. (NYSE:AAQC – Get Rating) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 252,300 shares, a decrease of 70.6% from the August 15th total of 858,600 shares. Based on an average daily volume of 49,500 shares, the short-interest ratio is presently 5.1 days. Currently, 0.6% of the shares of the stock are short sold.

Hedge Funds Weigh In On Accelerate Acquisition

Several institutional investors have recently bought and sold shares of AAQC. Basso Capital Management L.P. purchased a new position in Accelerate Acquisition during the first quarter valued at $1,623,000. Hsbc Holdings PLC grew its stake in shares of Accelerate Acquisition by 21.7% in the 1st quarter. Hsbc Holdings PLC now owns 898,670 shares of the company's stock worth $8,753,000 after buying an additional 160,289 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Accelerate Acquisition by 97.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 308,654 shares of the company's stock worth $3,012,000 after buying an additional 151,954 shares in the last quarter. Kawa Capital Management Inc purchased a new position in shares of Accelerate Acquisition in the 4th quarter worth $1,107,000. Finally, Saba Capital Management L.P. grew its stake in shares of Accelerate Acquisition by 21.6% in the 1st quarter. Saba Capital Management L.P. now owns 614,106 shares of the company's stock worth $5,994,000 after buying an additional 109,103 shares in the last quarter. 63.04% of the stock is owned by hedge funds and other institutional investors.

Accelerate Acquisition Stock Performance

Shares of NYSE AAQC traded down $0.01 during midday trading on Tuesday, reaching $9.81. The stock had a trading volume of 7,249 shares, compared to its average volume of 60,930. The stock has a 50-day moving average of $9.81 and a 200-day moving average of $9.77. Accelerate Acquisition has a 12-month low of $9.67 and a 12-month high of $9.92.

About Accelerate Acquisition

Accelerate Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in industrial, transportation and mobility, consumer, and retail sectors.

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