McLaren Technology Acquisition Corp. (NASDAQ:MLAI – Get Rating) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 23,900 shares, a decline of 5.5% from the August 31st total of 25,300 shares. Based on an average daily volume of 24,000 shares, the short-interest ratio is presently 1.0 days. Approximately 0.1% of the company's stock are short sold.
Institutional Trading of McLaren Technology Acquisition
Large investors have recently added to or reduced their stakes in the company. Saba Capital Management L.P. acquired a new position in McLaren Technology Acquisition in the fourth quarter valued at approximately $16,041,000. Beryl Capital Management LLC bought a new stake in shares of McLaren Technology Acquisition during the fourth quarter worth $8,561,000. Karpus Management Inc. bought a new stake in shares of McLaren Technology Acquisition during the fourth quarter worth $7,389,000. Starboard Value LP bought a new stake in shares of McLaren Technology Acquisition during the fourth quarter worth $7,252,000. Finally, Apollo Management Holdings L.P. bought a new position in McLaren Technology Acquisition in the first quarter valued at $4,985,000. 62.68% of the stock is owned by institutional investors.
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McLaren Technology Acquisition Stock Performance
NASDAQ:MLAI opened at $10.04 on Wednesday. The firm's 50-day moving average is $10.04 and its 200-day moving average is $10.01. McLaren Technology Acquisition has a 52-week low of $9.80 and a 52-week high of $10.55.
About McLaren Technology Acquisition
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McLaren Technology Acquisition Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to focus on companies within the banking, financial services, and insurance sector that leverage artificial intelligence, machine learning, digital, technology, and fintech.
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