Compass Digital Acquisition Corp. (NASDAQ:CDAQ – Get Rating) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 8,700 shares, a decline of 29.8% from the October 15th total of 12,400 shares. Based on an average daily trading volume, of 53,500 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Compass Digital Acquisition

Several hedge funds and other institutional investors have recently bought and sold shares of CDAQ. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Compass Digital Acquisition during the first quarter valued at about $116,000. Schechter Investment Advisors LLC acquired a new position in shares of Compass Digital Acquisition during the third quarter valued at about $134,000. Wealthspring Capital LLC acquired a new position in shares of Compass Digital Acquisition during the third quarter valued at about $134,000. Exos Asset Management LLC acquired a new position in shares of Compass Digital Acquisition during the second quarter valued at about $288,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of Compass Digital Acquisition during the third quarter valued at about $289,000. Institutional investors and hedge funds own 54.83% of the company's stock.

Compass Digital Acquisition Price Performance

CDAQ stock remained flat at $9.87 during midday trading on Friday. 7 shares of the company traded hands, compared to its average volume of 31,058. Compass Digital Acquisition has a 1-year low of $9.59 and a 1-year high of $9.87. The company's fifty day moving average price is $9.79 and its two-hundred day moving average price is $9.71.

Compass Digital Acquisition Company Profile

Compass Digital Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus its search on companies in the technology sectors, including in the technology led digital transformation software and services sector.

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