Short Interest in TradeUP Global Co. (NASDAQ:TUGC) Drops By 58.7%

TradeUP Global Co. (NASDAQ:TUGC) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 5,900 shares, a decline of 58.7% from the December 15th total of 14,300 shares. Based on an average trading volume of 4,500 shares, the days-to-cover ratio is currently 1.3 days.

Institutional investors have recently made changes to their positions in the business. ATW Spac Management LLC bought a new position in TradeUP Global in the second quarter worth about $990,000. Schonfeld Strategic Advisors LLC bought a new position in TradeUP Global in the third quarter worth about $100,000. Ancora Advisors LLC bought a new position in TradeUP Global in the third quarter worth about $361,000. Beryl Capital Management LLC bought a new position in TradeUP Global in the third quarter worth about $912,000. Finally, Wolverine Asset Management LLC bought a new position in TradeUP Global in the third quarter worth about $561,000. Institutional investors and hedge funds own 13.24% of the company’s stock.

TUGC stock opened at $9.83 on Friday. The company has a 50-day moving average price of $9.83. TradeUP Global has a 1-year low of $9.58 and a 1-year high of $9.99.

TradeUP Global Company Profile

TradeUP Global Corporation focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.

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