Cascadia Acquisition Corp. (NASDAQ:CCAI – Get Rating) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 7,500 shares, an increase of 581.8% from the December 31st total of 1,100 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 31,500 shares, the short-interest ratio is presently 0.2 days.
Cascadia Acquisition Price Performance
Shares of NASDAQ CCAI traded up $0.01 during mid-day trading on Thursday, hitting $10.12. 68,188 shares of the company were exchanged, compared to its average volume of 263,541. The stock has a 50 day simple moving average of $10.00 and a 200-day simple moving average of $9.90. Cascadia Acquisition has a 1-year low of $9.68 and a 1-year high of $10.15.
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Institutional Investors Weigh In On Cascadia Acquisition
Several hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC lifted its holdings in shares of Cascadia Acquisition by 333.3% during the third quarter. Wolverine Asset Management LLC now owns 3,510 shares of the company's stock worth $34,000 after purchasing an additional 2,700 shares during the period. Millennium Management LLC lifted its holdings in Cascadia Acquisition by 6.7% in the second quarter. Millennium Management LLC now owns 160,100 shares of the company's stock valued at $1,566,000 after acquiring an additional 10,100 shares during the period. Flow Traders U.S. LLC acquired a new stake in Cascadia Acquisition in the third quarter valued at $102,000. Sculptor Capital LP acquired a new stake in Cascadia Acquisition in the second quarter valued at $104,000. Finally, Glazer Capital LLC lifted its holdings in Cascadia Acquisition by 130.9% in the third quarter. Glazer Capital LLC now owns 23,594 shares of the company's stock valued at $232,000 after acquiring an additional 13,377 shares during the period. 74.51% of the stock is owned by institutional investors and hedge funds.
About Cascadia Acquisition
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Cascadia Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Seattle, Washington.
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