Sierra Lake Acquisition Corp. (NASDAQ:SIER – Get Rating) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 24,000 shares, an increase of 65.5% from the August 15th total of 14,500 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 44,500 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Sierra Lake Acquisition

A number of institutional investors have recently modified their holdings of SIER. CSS LLC IL acquired a new position in Sierra Lake Acquisition in the fourth quarter valued at approximately $141,000. Bank of Montreal Can acquired a new stake in Sierra Lake Acquisition in the first quarter worth $217,000. Centiva Capital LP lifted its stake in Sierra Lake Acquisition by 9.0% in the second quarter. Centiva Capital LP now owns 32,826 shares of the company's stock valued at $326,000 after buying an additional 2,697 shares during the last quarter. Karpus Management Inc. acquired a new position in shares of Sierra Lake Acquisition during the fourth quarter valued at $489,000. Finally, Tuttle Capital Management LLC acquired a new position in shares of Sierra Lake Acquisition during the first quarter valued at $548,000.

Sierra Lake Acquisition Stock Performance

Shares of NASDAQ:SIER remained flat at $9.99 on Wednesday. 4,746 shares of the company's stock were exchanged, compared to its average volume of 73,003. The business has a fifty day simple moving average of $9.95 and a 200-day simple moving average of $9.90. Sierra Lake Acquisition has a 52 week low of $9.65 and a 52 week high of $10.40.

About Sierra Lake Acquisition

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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