Logistics Innovation Technologies Corp. (NASDAQ:LITT – Get Rating) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 9,400 shares, an increase of 123.8% from the June 15th total of 4,200 shares. Based on an average trading volume of 63,500 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Logistics Innovation Technologies

A number of hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Logistics Innovation Technologies in the fourth quarter valued at $224,000. Ghisallo Capital Management LLC bought a new position in Logistics Innovation Technologies during the 4th quarter worth about $4,265,000. Third Point LLC bought a new stake in shares of Logistics Innovation Technologies in the 4th quarter valued at about $9,680,000. 683 Capital Management LLC boosted its holdings in shares of Logistics Innovation Technologies by 5.3% in the 4th quarter. 683 Capital Management LLC now owns 1,999,999 shares of the company's stock valued at $19,360,000 after buying an additional 100,000 shares in the last quarter. Finally, Castle Creek Arbitrage LLC bought a new stake in shares of Logistics Innovation Technologies in the 4th quarter valued at about $3,388,000. Hedge funds and other institutional investors own 72.39% of the company's stock.

Logistics Innovation Technologies Stock Up 0.4 %

Logistics Innovation Technologies stock traded up $0.04 during trading hours on Friday, hitting $9.75. The stock had a trading volume of 2,074 shares, compared to its average volume of 26,670. Logistics Innovation Technologies has a 12-month low of $9.33 and a 12-month high of $9.85. The stock's 50-day moving average price is $9.72 and its 200-day moving average price is $9.71.

Logistics Innovation Technologies Company Profile

Logistics Innovation Technologies Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire businesses serving the senior market or capable of being repositioned to do so.

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