Chenghe Acquisition Co. (NASDAQ:CHEA – Get Rating) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 3,600 shares, a drop of 68.4% from the November 15th total of 11,400 shares. Based on an average daily volume of 20,600 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the company's shares are short sold.

Chenghe Acquisition Price Performance

Shares of NASDAQ:CHEA remained flat at $10.28 during trading on Wednesday. The stock had a trading volume of 1,700 shares, compared to its average volume of 35,640. Chenghe Acquisition has a 1-year low of $9.98 and a 1-year high of $10.32. The stock's 50 day simple moving average is $10.19.

Institutional Investors Weigh In On Chenghe Acquisition

Several institutional investors have recently modified their holdings of CHEA. Saba Capital Management L.P. bought a new stake in shares of Chenghe Acquisition in the 3rd quarter valued at approximately $6,355,000. Mangrove Partners bought a new stake in shares of Chenghe Acquisition in the 3rd quarter valued at approximately $4,532,000. Shaolin Capital Management LLC bought a new stake in shares of Chenghe Acquisition in the 3rd quarter valued at approximately $3,810,000. Cubist Systematic Strategies LLC bought a new stake in shares of Chenghe Acquisition in the 3rd quarter valued at approximately $3,415,000. Finally, Prelude Capital Management LLC bought a new stake in shares of Chenghe Acquisition during the 2nd quarter worth approximately $2,525,000. 22.83% of the stock is owned by institutional investors.

Chenghe Acquisition Company Profile

Chenghe Acquisition Co 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 identify business opportunities in the field of financial technology or technology-enabled financial service companies, including artificial intelligence, big data, and cloud and blockchain-related initiatives in Asian markets.

Further Reading

• Get a free copy of the StockNews.com research report on Chenghe Acquisition (CHEA)
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