McLaren Technology Acquisition Corp. (NASDAQ:MLAI – Get Rating) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 10,000 shares, a drop of 61.8% from the October 31st total of 26,200 shares. Based on an average daily trading volume, of 32,400 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company's stock are short sold.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in MLAI. Robinson Capital Management LLC bought a new position in McLaren Technology Acquisition in the third quarter worth $110,000. Pathstone Family Office LLC purchased a new position in McLaren Technology Acquisition during the 3rd quarter valued at about $96,000. Boothbay Fund Management LLC bought a new stake in McLaren Technology Acquisition during the third quarter worth about $176,000. State Street Corp purchased a new stake in McLaren Technology Acquisition in the first quarter worth about $192,000. Finally, WA Asset Management LLC purchased a new stake in McLaren Technology Acquisition in the third quarter worth about $167,000. Hedge funds and other institutional investors own 62.68% of the company's stock.
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McLaren Technology Acquisition Stock Performance
McLaren Technology Acquisition stock traded up $0.01 during trading hours on Tuesday, hitting $10.15. 282,381 shares of the stock traded hands, compared to its average volume of 58,966. McLaren Technology Acquisition has a one year low of $9.80 and a one year high of $10.55. The firm's 50-day moving average price is $10.08 and its two-hundred day moving average price is $10.04.
McLaren Technology Acquisition Company Profile
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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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