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Newcourt Acquisition Corp (NASDAQ:NCAC) Sees Significant Decrease in Short Interest

Defense World ·  Jan 3, 2023 02:51

Newcourt Acquisition Corp (NASDAQ:NCAC – Get Rating) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 5,000 shares, a decline of 16.7% from the November 30th total of 6,000 shares. Based on an average daily trading volume, of 85,400 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company's stock are sold short.

Newcourt Acquisition Stock Performance

Shares of NCAC stock opened at $10.28 on Tuesday. Newcourt Acquisition has a 1-year low of $9.87 and a 1-year high of $10.55. The stock's fifty day moving average price is $10.25 and its 200 day moving average price is $10.15.

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Institutional Trading of Newcourt Acquisition

Several large investors have recently added to or reduced their stakes in NCAC. Bank of Montreal Can purchased a new stake in Newcourt Acquisition during the 1st quarter valued at about $749,000. Granby Capital Management LLC purchased a new stake in Newcourt Acquisition during the 1st quarter valued at about $250,000. Basso Capital Management L.P. purchased a new stake in Newcourt Acquisition during the 1st quarter valued at about $1,183,000. Verition Fund Management LLC purchased a new stake in Newcourt Acquisition during the 1st quarter valued at about $896,000. Finally, Prelude Capital Management LLC purchased a new stake in Newcourt Acquisition during the 1st quarter valued at about $226,000. Hedge funds and other institutional investors own 80.70% of the company's stock.

About Newcourt Acquisition

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Newcourt 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 Oakland, California.

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