Technology & Telecommunication Acquisition Co. (NASDAQ:TETE – Get Rating) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,400 shares, a growth of 140.0% from the February 13th total of 1,000 shares. Based on an average daily trading volume, of 14,600 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the company's shares are short sold.
Institutional Trading of Technology & Telecommunication Acquisition
Several hedge funds and other institutional investors have recently modified their holdings of TETE. Saba Capital Management L.P. acquired a new stake in shares of Technology & Telecommunication Acquisition in the 1st quarter valued at about $6,474,000. First Trust Capital Management L.P. increased its position in shares of Technology & Telecommunication Acquisition by 191.8% during the 4th quarter. First Trust Capital Management L.P. now owns 908,919 shares of the company's stock worth $9,357,000 after purchasing an additional 597,447 shares during the last quarter. Starboard Value LP acquired a new position in shares of Technology & Telecommunication Acquisition during the 1st quarter worth approximately $4,544,000. Polar Asset Management Partners Inc. acquired a new position in shares of Technology & Telecommunication Acquisition during the 1st quarter worth approximately $2,490,000. Finally, Verition Fund Management LLC acquired a new position in shares of Technology & Telecommunication Acquisition during the 3rd quarter worth approximately $2,020,000. Institutional investors and hedge funds own 60.80% of the company's stock.
Get Technology & Telecommunication Acquisition alerts:Technology & Telecommunication Acquisition Stock Performance
Technology & Telecommunication Acquisition stock traded down $0.01 during mid-day trading on Friday, hitting $10.69. 192 shares of the company's stock were exchanged, compared to its average volume of 3,448. The company's 50 day simple moving average is $10.45 and its 200-day simple moving average is $10.27. Technology & Telecommunication Acquisition has a fifty-two week low of $9.89 and a fifty-two week high of $11.15.
About Technology & Telecommunication Acquisition
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Technology & Telecommunication Acquisition Corporation focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to acquire companies in the technology and telecommunications sector in Malaysia.
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