Berto Acquisition Corp. (NASDAQ:TACOU) Short Interest Up 3,177.1% in May

Berto Acquisition Corp. (NASDAQ:TACOU) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 3,441 shares, a growth of 3,177.1% from the April 30th total of 105 shares. Based on an average daily volume of 4,024 shares, the short-interest ratio is currently 0.9 days.

Hedge Funds Weigh In On Berto Acquisition

A number of large investors have recently made changes to their positions in the company. OMERS ADMINISTRATION Corp bought a new position in shares of Berto Acquisition during the first quarter worth approximately $597,000. Clear Street Group Inc. increased its stake in Berto Acquisition by 421.5% during the 4th quarter. Clear Street Group Inc. now owns 163,403 shares of the company’s stock worth $1,681,000 after acquiring an additional 132,072 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in Berto Acquisition during the 2nd quarter worth $1,077,000.

Berto Acquisition Stock Performance

Shares of NASDAQ TACOU traded down $0.16 during midday trading on Friday, hitting $10.95. 1,026 shares of the company’s stock were exchanged, compared to its average volume of 5,619. The company’s 50 day moving average price is $10.52 and its 200 day moving average price is $10.40. Berto Acquisition has a 12 month low of $10.20 and a 12 month high of $11.26.

About Berto Acquisition

Berto Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. The company has no commercial operations to date and was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

The company completed its initial public offering in early 2022, raising gross proceeds through the sale of units each consisting of one share of common stock and a fraction of a warrant.