BYTE Acquisition Corp. (NASDAQ:BYTS – Get Rating) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 32,600 shares, an increase of 462.1% from the November 30th total of 5,800 shares. Approximately 0.1% of the company's shares are sold short. Based on an average daily volume of 160,500 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On BYTE Acquisition

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC raised its holdings in shares of BYTE Acquisition by 6.6% in the second quarter. Millennium Management LLC now owns 1,598,218 shares of the company's stock valued at $15,710,000 after buying an additional 99,244 shares during the last quarter. BNP Paribas Arbitrage SNC purchased a new stake in BYTE Acquisition during the 3rd quarter valued at approximately $9,262,000. Marshall Wace LLP lifted its position in BYTE Acquisition by 0.9% during the 3rd quarter. Marshall Wace LLP now owns 1,304,416 shares of the company's stock worth $12,914,000 after acquiring an additional 11,690 shares during the period. Glazer Capital LLC lifted its position in BYTE Acquisition by 24.6% during the 3rd quarter. Glazer Capital LLC now owns 1,146,026 shares of the company's stock worth $11,346,000 after acquiring an additional 225,994 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of BYTE Acquisition by 351.9% in the 2nd quarter. Bank of Montreal Can now owns 385,240 shares of the company's stock valued at $3,806,000 after purchasing an additional 300,000 shares during the last quarter. Institutional investors and hedge funds own 66.40% of the company's stock.

BYTE Acquisition Stock Performance

Shares of BYTE Acquisition stock remained flat at $10.07 during trading hours on Wednesday. The stock had a trading volume of 14,701 shares, compared to its average volume of 385,927. The firm has a 50-day moving average of $10.01 and a two-hundred day moving average of $9.91. BYTE Acquisition has a 1-year low of $9.66 and a 1-year high of $10.08.

About BYTE Acquisition

BYTE Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus its search for targets in the Israeli technology industry, including cybersecurity, automotive technology, fintech, enterprise software, cloud computing, semiconductors, medical technology, artificial intelligence, and robotics.

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