Founder SPAC (NASDAQ:FOUN – Get Rating) saw a large decrease in short interest in the month of April. As of April 30th, there was short interest totalling 18,900 shares, a decrease of 22.2% from the April 15th total of 24,300 shares. Based on an average daily volume of 45,700 shares, the short-interest ratio is currently 0.4 days.
Several institutional investors and hedge funds have recently modified their holdings of the company. Saba Capital Management L.P. acquired a new position in shares of Founder SPAC in the 4th quarter valued at about $28,116,000. Beryl Capital Management LLC acquired a new position in Founder SPAC in the fourth quarter worth approximately $17,760,000. Marshall Wace LLP acquired a new position in Founder SPAC in the fourth quarter worth approximately $15,081,000. Aristeia Capital LLC acquired a new position in Founder SPAC in the fourth quarter worth approximately $13,212,000. Finally, Fir Tree Capital Management LP increased its holdings in Founder SPAC by 2.8% in the first quarter. Fir Tree Capital Management LP now owns 925,172 shares of the company’s stock worth $9,298,000 after buying an additional 25,172 shares during the last quarter. Institutional investors own 58.24% of the company’s stock.
Shares of FOUN traded up $0.02 during trading hours on Tuesday, reaching $10.02. The company’s stock had a trading volume of 500 shares, compared to its average volume of 37,253. Founder SPAC has a 1-year low of $9.79 and a 1-year high of $10.09. The firm has a 50 day moving average of $10.03.
Founder SPAC focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on businesses in the technology sector. The company was incorporated in 2021 and is based in Houston, Texas.
- Get a free copy of the StockNews.com research report on Founder SPAC (FOUN)
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