McLaren Technology Acquisition Corp. (NASDAQ:MLAI – Get Rating) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 26,200 shares, a growth of 106.3% from the October 15th total of 12,700 shares. Based on an average daily volume of 31,000 shares, the short-interest ratio is presently 0.8 days. Approximately 0.1% of the company's shares are short sold.

McLaren Technology Acquisition Stock Performance

Shares of NASDAQ:MLAI opened at $10.14 on Friday. The firm's 50-day moving average is $10.05 and its two-hundred day moving average is $10.03. McLaren Technology Acquisition has a 1 year low of $9.80 and a 1 year high of $10.55.

Institutional Trading of McLaren Technology Acquisition

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Saba Capital Management L.P. increased its stake in McLaren Technology Acquisition by 2.3% during the first quarter. Saba Capital Management L.P. now owns 1,654,758 shares of the company's stock worth $16,498,000 after purchasing an additional 37,759 shares during the period. Highbridge Capital Management LLC increased its stake in shares of McLaren Technology Acquisition by 6.9% during the first quarter. Highbridge Capital Management LLC now owns 1,339,345 shares of the company's stock worth $13,367,000 after buying an additional 86,698 shares during the period. Apollo Management Holdings L.P. purchased a new stake in shares of McLaren Technology Acquisition during the first quarter worth approximately $4,985,000. Aristeia Capital LLC purchased a new stake in shares of McLaren Technology Acquisition during the first quarter worth approximately $3,490,000. Finally, Millennium Management LLC increased its stake in shares of McLaren Technology Acquisition by 0.6% during the second quarter. Millennium Management LLC now owns 299,454 shares of the company's stock worth $2,998,000 after buying an additional 1,764 shares during the period. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

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