FinTech Evolution Acquisition Group (NYSE:FTEV) short interest falls 65.1%.
The number of short positions in Fintech Evolution Acquisition Group (NYSE: FTEV) decreased significantly during December. 26,900 shares had been borrowed as of 15 December, but as of 30 December only 9,400 shares had been borrowed, a decrease of 65.1% from the number of borrowed shares. The current short interest ratio is 0.1 days, based on an average daily volume of 76,100 shares. This figure was obtained by using the data. There is not even a single share of the company’s stock being sold short right now.
In recent months, several hedge funds have implemented new procedures for their FTEVs. During the first quarter, Bank of America Corp. achieved (DE) an increase of 53,571.4% in the percentage of the holdings comprising the FinTech Evolution Acquisition Group. Bank of America Corp. (DE) now has a total of 751,400 shares after the acquisition of a further 750,000 in the last period. Each share of the company’s stock is currently valued at $7,364,000. Glazer Capital LLC increased its holdings in FinTech Evolution Acquisition Group by 40.4% during the third quarter, bringing its total stake in the company to 100%. Glazer Capital LLC now directly owns 2,552,026 shares of the company’s stock valued at $25,316,000 after buying an additional 734,578 shares during the last quarter. This brings the total number of shares directly owned by the company to 2,552,026. Verition Fund Management LLC made a new investment in FinTech Evolution Acquisition Group during the third quarter of 2018. This new position was estimated to be worth approximately $2,543,000. The amount of ownership in Fintech Evolution Acquisition Group held by Basso Capital Management LP increased by 2,042% during the first three months of the year. The 91,785 shares in the company that Basso Capital Management LP owns have a market value of $899,000. This is the result of buying an additional 87,500 shares during the last fiscal quarter to bring the total number of shares owned by the company to 188,500. During the second quarter, Karpus Management Inc. increased its stake in FinTech Evolution Acquisition Group to 90 .2%, bringing the total number of shares they held to 90.2. After purchasing an additional 45,169 shares during the last fiscal quarter the company has been operating, Karpus Management Inc. now owns a total of 95,269 shares. The current value of these shares is $934,000. Institutional investors and hedge funds own a total of 65.81% of the company’s shares.
On Wednesday morning, the price of an individual share in FTEV opened for trading at $10.14. The moving average for the company over the last 50 days is $10.06, but the moving average over the previous 200 days is only $9.95. Over the past year, FinTech Evolution Acquisition Group stock price has fluctuated between a 52-week low of $9.64 and a 52-week high of $10.15.
FinTech Evolution Acquisition Group does not employ many employees. The company’s primary objective is to participate in some form of corporate association with one or more other businesses, such as a merger, share exchange, acquisition of assets, share purchase, reorganization or other similar corporate association. This can be a merger, share exchange, acquisition of assets, purchase or reorganization. In addition to focusing on businesses that offer more general technology software, services or products, the company intends to concentrate on businesses that provide financial technology and technology-enabled services to the financial sector.