SC II Acquisition Corp. (NASDAQ:SCII) Shares Shorted: Short Interest Down 60.4% in September

SC II Acquisition Corp. (NASDAQ:SCII) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 322 shares, a decrease of 60.4% from the September 15th total of 813 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 32,103 shares, the days-to-cover ratio is currently 0.0 days.

SC II Acquisition Stock Performance

SCII traded up $0.01 during mid-day trading on Tuesday, hitting $10.19. The stock had a trading volume of 9 shares, compared to its average volume of 69,952. The business’s fifty day simple moving average is $10.15. SC II Acquisition has a 1-year low of $9.90 and a 1-year high of $10.18.

Institutional Trading of SC II Acquisition

A hedge fund recently bought a new position in SC II Acquisition stock. Harraden Circle Investments LLC bought a new position in shares of SC II Acquisition Corp. (NASDAQ:SCII) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,897,900 shares of the company’s stock, valued at approximately $29,066,000. SC II Acquisition makes up approximately 2.9% of Harraden Circle Investments LLC’s portfolio, making the stock its 6th largest position. Harraden Circle Investments LLC owned approximately 16.55% of SC II Acquisition as of its most recent filing with the Securities & Exchange Commission.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SC II Acquisition in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

About SC II Acquisition

SC II Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. Unlike an operating company, it was established primarily to raise capital through an initial public offering and use those proceeds, together with other funding sources, to pursue a merger, acquisition, stock purchase, reorganization or similar transaction.

The company did not have established commercial products, services or operating business activities of its own.