Pine Technology Acquisition Corp. (NASDAQ:PTOCU) Sees Large Growth in Short Interest

Pine Technology Acquisition Corp. (NASDAQ:PTOCU) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 7,500 shares, a growth of 25.0% from the August 15th total of 6,000 shares. Based on an average daily trading volume, of 11,800 shares, the short-interest ratio is presently 0.6 days. Approximately 0.0% of the company’s shares are short sold.

Several institutional investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Pine Technology Acquisition during the second quarter valued at approximately $103,000. Boothbay Fund Management LLC bought a new position in Pine Technology Acquisition in the second quarter worth approximately $150,000. Royal Bank of Canada raised its stake in Pine Technology Acquisition by 10,000.0% in the second quarter. Royal Bank of Canada now owns 10,100 shares of the company’s stock worth $100,000 after buying an additional 10,000 shares in the last quarter. Security Benefit Life Insurance Co. KS bought a new position in Pine Technology Acquisition in the second quarter worth approximately $5,982,000. Finally, Basso Capital Management L.P. raised its stake in Pine Technology Acquisition by 75.2% in the second quarter. Basso Capital Management L.P. now owns 231,766 shares of the company’s stock worth $2,301,000 after buying an additional 99,500 shares in the last quarter.

Shares of NASDAQ:PTOCU opened at $9.88 on Tuesday. The company’s 50 day simple moving average is $9.90. Pine Technology Acquisition has a 1 year low of $9.77 and a 1 year high of $10.01.

Pine Technology Acquisition Company Profile

Pine Technology Acquisition Corp., a blank check company, intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to identify the business in the areas of InsurTech or insurance. The company was incorporated in 2020 and is based in Aurora, Ohio.

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