Logistics Innovation Technologies Corp. (NASDAQ:LITT – Get Rating) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 4,500 shares, a decrease of 10.0% from the September 30th total of 5,000 shares. Based on an average daily trading volume, of 173,500 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On Logistics Innovation Technologies

A number of large investors have recently modified their holdings of LITT. UBS Group AG raised its stake in shares of Logistics Innovation Technologies by 189.3% during the 1st quarter. UBS Group AG now owns 2,598 shares of the company's stock worth $25,000 after buying an additional 1,700 shares in the last quarter. Basso Capital Management L.P. acquired a new stake in shares of Logistics Innovation Technologies in the 1st quarter worth approximately $63,000. Corbyn Investment Management Inc. MD acquired a new stake in shares of Logistics Innovation Technologies in the 1st quarter worth approximately $163,000. Virtu Financial LLC acquired a new stake in shares of Logistics Innovation Technologies in the 2nd quarter worth approximately $208,000. Finally, Walleye Trading LLC acquired a new stake in shares of Logistics Innovation Technologies in the 2nd quarter worth approximately $350,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

Logistics Innovation Technologies Stock Performance

Shares of LITT stock traded up $0.02 during trading hours on Friday, reaching $9.84. 50,262 shares of the company's stock were exchanged, compared to its average volume of 54,678. The company's 50 day moving average is $9.77 and its two-hundred day moving average is $9.75. Logistics Innovation Technologies has a 1 year low of $9.61 and a 1 year high of $9.86.

Logistics Innovation Technologies Company Profile

Logistics Innovation Technologies Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire businesses serving the senior market or capable of being repositioned to do so.

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