OmniLit Acquisition Corp. (NASDAQ:OLIT – Get Rating) was the target of a significant drop in short interest in the month of December. As of December 30th, there was short interest totalling 2,300 shares, a drop of 76.5% from the December 15th total of 9,800 shares. Approximately 0.0% of the company's stock are short sold. Based on an average daily volume of 44,300 shares, the days-to-cover ratio is currently 0.1 days.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Polar Asset Management Partners Inc. bought a new position in shares of OmniLit Acquisition during the first quarter valued at about $8,258,000. Starboard Value LP bought a new position in shares of OmniLit Acquisition during the first quarter valued at about $4,184,000. Marshall Wace LLP lifted its position in shares of OmniLit Acquisition by 412.5% during the third quarter. Marshall Wace LLP now owns 501,831 shares of the company's stock valued at $5,059,000 after purchasing an additional 403,908 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of OmniLit Acquisition during the first quarter valued at about $3,706,000. Finally, Sculptor Capital LP raised its position in OmniLit Acquisition by 103.8% in the second quarter. Sculptor Capital LP now owns 547,242 shares of the company's stock worth $5,467,000 after acquiring an additional 278,668 shares during the period. 60.15% of the stock is currently owned by institutional investors and hedge funds.
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OmniLit Acquisition Trading Up 0.1 %
NASDAQ:OLIT traded up $0.01 during trading hours on Thursday, reaching $10.11. The company had a trading volume of 14,372 shares, compared to its average volume of 26,606. The business's 50-day simple moving average is $10.12 and its two-hundred day simple moving average is $10.07. OmniLit Acquisition has a twelve month low of $9.79 and a twelve month high of $11.55.
About OmniLit Acquisition
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OmniLit 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 focus on transactions with companies and/or assets within the photonics or optics, and related sectors.
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