Black Spade Acquisition Co (NYSE:BSAQ – Get Rating) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 600 shares, a drop of 92.1% from the April 30th total of 7,600 shares. Based on an average daily trading volume, of 28,400 shares, the days-to-cover ratio is presently 0.0 days.
BSAQ stock traded up $9.69 during mid-day trading on Wednesday, hitting $9.69. The stock had a trading volume of 601 shares, compared to its average volume of 34,861. Black Spade Acquisition has a 52 week low of $9.39 and a 52 week high of $9.98. The firm has a fifty day simple moving average of $9.70 and a 200 day simple moving average of $9.69.
Several institutional investors and hedge funds have recently bought and sold shares of BSAQ. Goldman Sachs Group Inc. acquired a new stake in shares of Black Spade Acquisition in the 3rd quarter valued at approximately $1,480,000. Credit Suisse AG acquired a new stake in shares of Black Spade Acquisition in the 3rd quarter valued at approximately $654,000. Marshall Wace LLP acquired a new stake in Black Spade Acquisition during the 3rd quarter worth approximately $2,419,000. Berkley W R Corp acquired a new stake in Black Spade Acquisition during the 3rd quarter worth approximately $1,062,000. Finally, Strategic Vision Investment Ltd acquired a new stake in Black Spade Acquisition during the 3rd quarter worth approximately $991,000. Institutional investors own 47.35% of the company’s stock.
Black Spade Acquisition Co focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other business combination with one or more businesses. It intends to complete a business combination with companies in the entertainment industry worldwide. The company was incorporated in 2021 and is based in Central, Hong Kong.
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