Pono Capital Corp. (NASDAQ:PONO – Get Rating) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 4,500 shares, an increase of 181.3% from the November 30th total of 1,600 shares. Approximately 0.7% of the company's stock are short sold. Based on an average daily trading volume, of 17,100 shares, the days-to-cover ratio is presently 0.3 days.
Institutional Investors Weigh In On Pono Capital
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG raised its stake in Pono Capital by 4,175.0% in the first quarter. UBS Group AG now owns 2,565 shares of the company's stock valued at $26,000 after buying an additional 2,505 shares during the last quarter. Glazer Capital LLC purchased a new stake in Pono Capital in the first quarter valued at about $138,000. EHP Funds Inc. acquired a new stake in shares of Pono Capital in the 1st quarter worth approximately $150,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Pono Capital in the 3rd quarter worth approximately $154,000. Finally, OTA Financial Group L.P. acquired a new stake in shares of Pono Capital in the 2nd quarter worth approximately $266,000. 74.11% of the stock is currently owned by hedge funds and other institutional investors.
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Pono Capital Trading Up 1.0 %
Pono Capital stock traded up $0.10 during midday trading on Thursday, reaching $10.48. The company's stock had a trading volume of 722 shares, compared to its average volume of 35,086. The stock's 50-day simple moving average is $10.25 and its 200-day simple moving average is $10.19. Pono Capital has a 52-week low of $9.96 and a 52-week high of $10.70.
About Pono Capital
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Pono Capital Corp. 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 business opportunities in the field of enterprise security and operations applications, cloud-based content and digital streaming services, drone technology and service, artificial intelligence, consumer healthcare and wellness, biomedical technology, entertainment/gaming, distance learning, and online retail and e-sports.
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