Short Interest in CC Neuberger Principal Holdings III (NYSE:PRPC) Declines By 59.3%

CC Neuberger Principal Holdings III (NYSE:PRPCGet Rating) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 13,600 shares, a decline of 59.3% from the May 31st total of 33,400 shares. Based on an average trading volume of 104,700 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of CC Neuberger Principal Holdings III by 1.0% in the first quarter. Bank of America Corp DE now owns 403,864 shares of the company’s stock worth $3,982,000 after purchasing an additional 3,864 shares in the last quarter. Spartan Fund Management Inc. purchased a new position in shares of CC Neuberger Principal Holdings III in the first quarter worth about $2,281,000. Saba Capital Management L.P. increased its stake in shares of CC Neuberger Principal Holdings III by 11.2% in the first quarter. Saba Capital Management L.P. now owns 692,315 shares of the company’s stock worth $6,826,000 after purchasing an additional 70,000 shares in the last quarter. Kohlberg Kravis Roberts & Co. L.P. purchased a new position in shares of CC Neuberger Principal Holdings III in the first quarter worth about $108,000. Finally, RP Investment Advisors LP purchased a new position in shares of CC Neuberger Principal Holdings III in the first quarter worth about $3,090,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

PRPC stock traded up $0.01 during mid-day trading on Friday, hitting $9.85. The company had a trading volume of 6,703 shares, compared to its average volume of 103,054. The stock’s fifty day moving average price is $9.82 and its two-hundred day moving average price is $9.81. CC Neuberger Principal Holdings III has a 12 month low of $9.65 and a 12 month high of $9.90.

CC Neuberger Principal Holdings III Company Profile (Get Rating)

CC Neuberger Principal Holdings III does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.

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