Finnovate Acquisition Corp. (NASDAQ:FNVT – Get Rating) saw a large decline in short interest in December. As of December 15th, there was short interest totalling 6,200 shares, a decline of 10.1% from the November 30th total of 6,900 shares. Based on an average daily trading volume, of 38,200 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the shares of the stock are short sold.

Finnovate Acquisition Trading Up 0.3 %

Shares of NASDAQ FNVT traded up $0.03 during trading on Thursday, reaching $10.29. The company had a trading volume of 1,577,195 shares, compared to its average volume of 15,849. The company's fifty day moving average price is $10.20 and its 200-day moving average price is $10.08. Finnovate Acquisition has a 12 month low of $9.81 and a 12 month high of $10.67.

Institutional Investors Weigh In On Finnovate Acquisition

A number of institutional investors have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. bought a new stake in shares of Finnovate Acquisition during the 3rd quarter valued at about $2,522,000. Marshall Wace LLP boosted its position in shares of Finnovate Acquisition by 15.4% during the 3rd quarter. Marshall Wace LLP now owns 745,669 shares of the company's stock valued at $7,524,000 after purchasing an additional 99,240 shares in the last quarter. Cantor Fitzgerald L. P. boosted its position in shares of Finnovate Acquisition by 290.6% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 970,268 shares of the company's stock valued at $9,790,000 after purchasing an additional 721,843 shares in the last quarter. Shaolin Capital Management LLC bought a new stake in shares of Finnovate Acquisition during the 3rd quarter valued at about $5,010,000. Finally, Glazer Capital LLC boosted its position in shares of Finnovate Acquisition by 1.9% during the 3rd quarter. Glazer Capital LLC now owns 248,859 shares of the company's stock valued at $2,511,000 after purchasing an additional 4,622 shares in the last quarter. Institutional investors own 63.74% of the company's stock.

About Finnovate Acquisition

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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