Finnovate Acquisition Corp. (NASDAQ:FNVT – Get Rating) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 6,900 shares, a drop of 16.9% from the November 15th total of 8,300 shares. Based on an average trading volume of 40,700 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Finnovate Acquisition Stock Up 0.2 %

Shares of FNVT opened at $10.24 on Friday. The stock has a 50 day moving average of $10.15 and a 200 day moving average of $10.05. Finnovate Acquisition has a 12 month low of $9.77 and a 12 month high of $10.67.

Institutional Trading of Finnovate Acquisition

A number of institutional investors and hedge funds have recently modified their holdings of FNVT. Cantor Fitzgerald L. P. increased its position in shares of Finnovate Acquisition by 290.6% during the third quarter. Cantor Fitzgerald L. P. now owns 970,268 shares of the company's stock valued at $9,790,000 after acquiring an additional 721,843 shares during the last quarter. Hartree Partners LP purchased a new stake in shares of Finnovate Acquisition during the second quarter valued at approximately $4,970,000. Shaolin Capital Management LLC purchased a new stake in shares of Finnovate Acquisition during the third quarter valued at approximately $5,010,000. Spring Creek Capital LLC purchased a new stake in shares of Finnovate Acquisition during the first quarter valued at approximately $3,964,000. Finally, Taconic Capital Advisors LP purchased a new stake in shares of Finnovate Acquisition during the first quarter valued at approximately $3,171,000. 61.71% of the stock is owned by hedge funds and other institutional investors.

Finnovate Acquisition Company Profile

Finnovate Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to acquire Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service (FAAS), banking as a service (BAAS), cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.

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