Burtech Acquisition (NASDAQ:BRKH) Trading 13.9% Higher – Should You Buy?

Burtech Acquisition Corp. (NASDAQ:BRKH)’s share price shot up 13.9% during mid-day trading on Monday . The stock traded as high as $29.61 and last traded at $15.00. 2,989 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 27,399 shares. The stock had previously closed at $13.18.

Burtech Acquisition Stock Performance

The stock has a 50-day simple moving average of $11.62 and a 200 day simple moving average of $11.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clear Street LLC boosted its stake in shares of Burtech Acquisition by 141.8% during the 2nd quarter. Clear Street LLC now owns 3,206 shares of the company’s stock valued at $36,000 after buying an additional 1,880 shares during the period. Spartan Fund Management Inc. acquired a new stake in Burtech Acquisition during the third quarter valued at $1,693,000. Finally, Mizuho Securities USA LLC grew its stake in Burtech Acquisition by 3.2% in the third quarter. Mizuho Securities USA LLC now owns 477,327 shares of the company’s stock valued at $5,360,000 after purchasing an additional 14,843 shares in the last quarter. 97.12% of the stock is owned by hedge funds and other institutional investors.

About Burtech Acquisition

Burtech Acquisition Corp. does not have significant operations. The company focuses to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire a business, which operates in the retail, lifestyle, hospitality, technology, and real estate markets.