Arrowroot Acquisition Corp. (NASDAQ:ARRW – Get Rating) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 5,000 shares, a growth of 212.5% from the June 15th total of 1,600 shares. Based on an average daily trading volume, of 34,200 shares, the short-interest ratio is presently 0.1 days.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of ARRW. Cantor Fitzgerald L. P. boosted its stake in shares of Arrowroot Acquisition by 21.5% in the first quarter. Cantor Fitzgerald L. P. now owns 453,799 shares of the company's stock valued at $4,425,000 after purchasing an additional 80,401 shares during the period. Spartan Fund Management Inc. acquired a new stake in Arrowroot Acquisition during the first quarter worth approximately $1,827,000. Radcliffe Capital Management L.P. raised its holdings in Arrowroot Acquisition by 5.2% during the first quarter. Radcliffe Capital Management L.P. now owns 526,214 shares of the company's stock worth $5,136,000 after purchasing an additional 26,214 shares in the last quarter. Saba Capital Management L.P. raised its holdings in Arrowroot Acquisition by 1.1% during the first quarter. Saba Capital Management L.P. now owns 1,123,257 shares of the company's stock worth $10,963,000 after purchasing an additional 12,321 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Arrowroot Acquisition by 246.8% in the 1st quarter. Hsbc Holdings PLC now owns 1,147,485 shares of the company's stock valued at $11,182,000 after acquiring an additional 816,631 shares during the period. Hedge funds and other institutional investors own 65.09% of the company's stock.
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Arrowroot Acquisition Stock Performance
Arrowroot Acquisition stock opened at $9.79 on Friday. Arrowroot Acquisition has a 12-month low of $9.61 and a 12-month high of $10.30. The company has a 50-day moving average price of $9.79 and a 200 day moving average price of $9.76.
About Arrowroot Acquisition
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Arrowroot Acquisition 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 identify and acquire a business focusing on the enterprise software sector.
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