Tuscan Holdings Corp. (NASDAQ:THCB) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 213,800 shares, a decline of 42.3% from the December 15th total of 370,600 shares. Based on an average trading volume of 2,520,000 shares, the short-interest ratio is presently 0.1 days. Approximately 0.8% of the shares of the company are short sold.
Institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership raised its stake in Tuscan by 147.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 57,863 shares of the company’s stock valued at $589,000 after acquiring an additional 34,463 shares during the period. California Public Employees Retirement System increased its position in shares of Tuscan by 3.1% during the third quarter. California Public Employees Retirement System now owns 59,000 shares of the company’s stock valued at $601,000 after buying an additional 1,800 shares during the period. Context Capital Management LLC bought a new stake in shares of Tuscan during the third quarter valued at about $602,000. Vivaldi Capital Management LLC increased its position in shares of Tuscan by 43.2% during the third quarter. Vivaldi Capital Management LLC now owns 60,977 shares of the company’s stock valued at $621,000 after buying an additional 18,400 shares during the period. Finally, Rivernorth Capital Management LLC bought a new stake in shares of Tuscan during the third quarter valued at about $2,176,000. Institutional investors and hedge funds own 72.37% of the company’s stock.
Shares of Tuscan stock opened at $16.17 on Thursday. Tuscan has a 52-week low of $9.16 and a 52-week high of $20.93. The firm has a 50-day moving average price of $15.03. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.04.
Tuscan Holdings Corp. does not have significant operations. It intends to enter into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with businesses and entities. The company was founded in 2018 and is based in New York, New York.
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