Finnovate Acquisition Corp. (NASDAQ:FNVT – Get Rating) was the target of a large drop in short interest during the month of December. As of December 30th, there was short interest totalling 5,700 shares, a drop of 8.1% from the December 15th total of 6,200 shares. Currently, 0.0% of the company's shares are short sold. Based on an average daily volume of 58,300 shares, the short-interest ratio is presently 0.1 days.
Finnovate Acquisition Price Performance
NASDAQ:FNVT remained flat at $10.33 during trading hours on Friday. The company had a trading volume of 19 shares, compared to its average volume of 146,515. Finnovate Acquisition has a twelve month low of $9.81 and a twelve month high of $10.80. The business's 50 day moving average is $10.24 and its two-hundred day moving average is $10.12.
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Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Clear Street LLC acquired a new stake in Finnovate Acquisition during the 3rd quarter worth about $34,000. Robinson Capital Management LLC grew its holdings in Finnovate Acquisition by 100.0% during the 3rd quarter. Robinson Capital Management LLC now owns 3,540 shares of the company's stock worth $36,000 after acquiring an additional 1,770 shares during the period. Centiva Capital LP acquired a new stake in Finnovate Acquisition during the 2nd quarter worth about $136,000. Virtu Financial LLC acquired a new stake in Finnovate Acquisition during the 3rd quarter worth about $169,000. Finally, Royal Bank of Canada grew its holdings in Finnovate Acquisition by 8.7% during the 1st quarter. Royal Bank of Canada now owns 47,337 shares of the company's stock worth $469,000 after acquiring an additional 3,800 shares during the period. 63.74% of the stock is owned by institutional investors.
About Finnovate Acquisition
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Finnovate Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to acquire Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service (FAAS), banking as a service (BAAS), cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.
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