Marblegate Acquisition Corp. (NASDAQ:GATE – Get Rating) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 25,000 shares, a growth of 14.7% from the August 15th total of 21,800 shares. Based on an average trading volume of 38,200 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.1% of the company's shares are short sold.

Hedge Funds Weigh In On Marblegate Acquisition

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Saba Capital Management L.P. raised its position in Marblegate Acquisition by 32.3% during the 1st quarter. Saba Capital Management L.P. now owns 1,506,120 shares of the company's stock worth $14,835,000 after purchasing an additional 367,452 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Marblegate Acquisition in the 4th quarter worth about $14,362,000. Marshall Wace LLP purchased a new stake in Marblegate Acquisition during the fourth quarter valued at about $14,362,000. Mizuho Markets Americas LLC bought a new stake in Marblegate Acquisition during the 2nd quarter worth approximately $12,636,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Marblegate Acquisition by 6,590.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,175 shares of the company's stock worth $11,467,000 after buying an additional 1,146,775 shares during the last quarter. 69.23% of the stock is owned by institutional investors and hedge funds.

Marblegate Acquisition Stock Up 0.1 %

GATE stock traded up $0.01 during midday trading on Tuesday, hitting $9.93. The company's stock had a trading volume of 27,100 shares, compared to its average volume of 25,425. The company's fifty day moving average price is $9.92 and its 200 day moving average price is $9.88. Marblegate Acquisition has a twelve month low of $9.76 and a twelve month high of $10.29.

About Marblegate Acquisition

Marblegate Acquisition Corp. does not have significant operations. It focuses on effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.

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