GigCapital5, Inc. (NYSE:GIA – Get Rating) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 5,600 shares, a drop of 45.6% from the December 31st total of 10,300 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 6,100 shares, the days-to-cover ratio is currently 0.9 days.

GigCapital5 Price Performance

Shares of NYSE GIA traded up $0.02 during mid-day trading on Friday, reaching $10.35. 14,685 shares of the company traded hands, compared to its average volume of 2,822. GigCapital5 has a fifty-two week low of $9.89 and a fifty-two week high of $10.42. The stock has a fifty day simple moving average of $10.24 and a 200-day simple moving average of $10.15.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. acquired a new position in GigCapital5 in the third quarter worth approximately $15,662,000. Mizuho Securities USA LLC boosted its stake in GigCapital5 by 76.6% in the 2nd quarter. Mizuho Securities USA LLC now owns 509,462 shares of the company's stock worth $5,044,000 after purchasing an additional 220,942 shares during the period. Karpus Management Inc. boosted its stake in GigCapital5 by 84.5% in the 2nd quarter. Karpus Management Inc. now owns 436,202 shares of the company's stock worth $4,393,000 after purchasing an additional 199,800 shares during the period. RPO LLC boosted its stake in GigCapital5 by 2.1% in the 2nd quarter. RPO LLC now owns 306,949 shares of the company's stock worth $3,102,000 after purchasing an additional 6,241 shares during the period. Finally, Shaolin Capital Management LLC acquired a new position in GigCapital5 in the 3rd quarter worth approximately $2,530,000. Institutional investors and hedge funds own 12.62% of the company's stock.

About GigCapital5

GigCapital5, Inc, a blank check company, focuses on entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more business. It intends to focus on businesses in the technology, media, telecommunications, aerospace and defense, intelligent automation, and sustainable industries.

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