McLaren Technology Acquisition Corp. (NASDAQ:MLAIU – Get Rating) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 400 shares, a decline of 69.2% from the August 15th total of 1,300 shares. Based on an average daily volume of 500 shares, the days-to-cover ratio is currently 0.8 days.

Hedge Funds Weigh In On McLaren Technology Acquisition

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sage Rock Capital Management LP purchased a new position in McLaren Technology Acquisition in the 4th quarter worth approximately $187,000. Glazer Capital LLC acquired a new position in shares of McLaren Technology Acquisition in the 4th quarter valued at approximately $806,000. Centiva Capital LP acquired a new position in shares of McLaren Technology Acquisition in the 4th quarter valued at approximately $1,006,000. Eisler Capital UK Ltd. acquired a new position in shares of McLaren Technology Acquisition in the 4th quarter valued at approximately $1,059,000. Finally, Spartan Fund Management Inc. acquired a new position in shares of McLaren Technology Acquisition in the 1st quarter valued at approximately $1,449,000.

McLaren Technology Acquisition Stock Performance

Shares of NASDAQ:MLAIU opened at $10.02 on Wednesday. McLaren Technology Acquisition has a 1 year low of $9.91 and a 1 year high of $10.20. The stock has a 50-day simple moving average of $10.05 and a 200-day simple moving average of $10.04.

About McLaren Technology Acquisition

McLaren Technology Acquisition Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to focus on companies within the banking, financial services, and insurance sector that leverage artificial intelligence, machine learning, digital, technology, and fintech.

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