Arrowroot Acquisition Corp. (NASDAQ:ARRW – Get Rating) was the target of a large decrease in short interest in December. As of December 30th, there was short interest totalling 6,900 shares, a decrease of 25.0% from the December 15th total of 9,200 shares. Based on an average trading volume of 90,200 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company's shares are short sold.
Hedge Funds Weigh In On Arrowroot Acquisition
A number of hedge funds have recently added to or reduced their stakes in ARRW. Saba Capital Management L.P. increased its holdings in Arrowroot Acquisition by 13.9% during the third quarter. Saba Capital Management L.P. now owns 1,595,486 shares of the company's stock valued at $15,668,000 after buying an additional 195,232 shares during the period. Periscope Capital Inc. increased its holdings in shares of Arrowroot Acquisition by 5.5% in the 3rd quarter. Periscope Capital Inc. now owns 1,403,649 shares of the company's stock valued at $13,784,000 after acquiring an additional 73,749 shares during the period. Marshall Wace LLP increased its holdings in shares of Arrowroot Acquisition by 10.3% in the 3rd quarter. Marshall Wace LLP now owns 1,327,014 shares of the company's stock valued at $13,031,000 after acquiring an additional 124,420 shares during the period. Fir Tree Capital Management LP increased its holdings in shares of Arrowroot Acquisition by 23.9% in the 3rd quarter. Fir Tree Capital Management LP now owns 1,298,750 shares of the company's stock valued at $12,754,000 after acquiring an additional 250,111 shares during the period. 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. 64.91% of the stock is currently owned by institutional investors.
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Arrowroot Acquisition Price Performance
ARRW stock traded down $0.01 during mid-day trading on Friday, reaching $10.08. The company had a trading volume of 15,100 shares, compared to its average volume of 197,325. The firm has a 50 day moving average of $9.99 and a 200 day moving average of $9.90. Arrowroot Acquisition has a 12 month low of $9.66 and a 12 month high of $10.30.
Arrowroot Acquisition Company Profile
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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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