XPAC Acquisition Corp. (NASDAQ:XPAX – Get Rating) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totalling 1,200 shares, a drop of 83.8% from the September 30th total of 7,400 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 43,100 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Trading of XPAC Acquisition

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cowen AND Company LLC acquired a new position in XPAC Acquisition during the 2nd quarter valued at about $486,000. Saba Capital Management L.P. bought a new stake in XPAC Acquisition during the 1st quarter valued at $1,285,000. UBS Group AG raised its holdings in XPAC Acquisition by 10,068.1% during the 1st quarter. UBS Group AG now owns 190,041 shares of the company's stock valued at $1,840,000 after acquiring an additional 188,172 shares during the period. Basso Capital Management L.P. increased its holdings in shares of XPAC Acquisition by 2.5% in the first quarter. Basso Capital Management L.P. now owns 192,518 shares of the company's stock worth $1,864,000 after purchasing an additional 4,734 shares during the period. Finally, Spartan Fund Management Inc. purchased a new position in XPAC Acquisition in the second quarter worth $2,104,000. 32.91% of the stock is owned by institutional investors.

XPAC Acquisition Price Performance

Shares of NASDAQ XPAX remained flat at $9.83 during mid-day trading on Wednesday. The company had a trading volume of 1,000 shares, compared to its average volume of 120,559. XPAC Acquisition has a 12 month low of $9.59 and a 12 month high of $9.87. The firm's fifty day simple moving average is $9.79 and its 200 day simple moving average is $9.77.

About XPAC Acquisition

XPAC Acquisition Corp. does not have significant operations. It intends to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.

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