Power & Digital Infrastructure Acquisition II Corp. (NASDAQ:XPDB – Get Rating) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 34,800 shares, a drop of 31.1% from the February 28th total of 50,500 shares. Approximately 0.1% of the company's stock are sold short. Based on an average daily volume of 167,700 shares, the days-to-cover ratio is presently 0.2 days.

Power & Digital Infrastructure Acquisition II Price Performance

NASDAQ XPDB opened at $10.25 on Wednesday. The firm has a 50 day simple moving average of $10.19 and a 200-day simple moving average of $10.04. Power & Digital Infrastructure Acquisition II has a one year low of $9.77 and a one year high of $10.65.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in XPDB. Elequin Securities LLC purchased a new position in shares of Power & Digital Infrastructure Acquisition II in the fourth quarter valued at approximately $66,000. Verition Fund Management LLC purchased a new position in Power & Digital Infrastructure Acquisition II in the first quarter worth approximately $115,000. Jane Street Group LLC lifted its stake in Power & Digital Infrastructure Acquisition II by 62.4% in the fourth quarter. Jane Street Group LLC now owns 19,892 shares of the company's stock worth $200,000 after acquiring an additional 7,642 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Power & Digital Infrastructure Acquisition II in the fourth quarter worth approximately $227,000. Finally, Spartan Fund Management Inc. lifted its stake in Power & Digital Infrastructure Acquisition II by 9,727.6% in the fourth quarter. Spartan Fund Management Inc. now owns 25,257 shares of the company's stock worth $255,000 after acquiring an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 70.62% of the company's stock.

Power & Digital Infrastructure Acquisition II Company Profile

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Power & Digital Infrastructure Acquisition II Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities in the renewable and transition energy sector in North America.

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