Mercury Ecommerce Acquisition Corp. (NASDAQ:MEAC – Get Rating) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 16,500 shares, an increase of 20.4% from the June 30th total of 13,700 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 35,300 shares, the days-to-cover ratio is currently 0.5 days.
Institutional Investors Weigh In On Mercury Ecommerce Acquisition
A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada acquired a new position in Mercury Ecommerce Acquisition during the 1st quarter worth approximately $34,000. Basso Capital Management L.P. boosted its stake in shares of Mercury Ecommerce Acquisition by 1,808.4% in the first quarter. Basso Capital Management L.P. now owns 25,000 shares of the company's stock valued at $245,000 after buying an additional 23,690 shares in the last quarter. EHP Funds Inc. purchased a new position in Mercury Ecommerce Acquisition in the first quarter worth $491,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Mercury Ecommerce Acquisition in the first quarter valued at $491,000. Finally, Fifth Lane Capital LP purchased a new stake in shares of Mercury Ecommerce Acquisition during the 4th quarter worth $490,000. Institutional investors and hedge funds own 65.74% of the company's stock.
Get Mercury Ecommerce Acquisition alerts:Mercury Ecommerce Acquisition Stock Performance
Shares of MEAC stock remained flat at $9.97 during mid-day trading on Wednesday. 31 shares of the stock traded hands, compared to its average volume of 38,806. Mercury Ecommerce Acquisition has a one year low of $9.63 and a one year high of $10.77. The company has a fifty day simple moving average of $9.90 and a 200-day simple moving average of $9.87.
About Mercury Ecommerce Acquisition
(Get Rating)Mercury Ecommerce Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2021 and is based in Houston, Texas.
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