Tristar Acquisition I Corp. (NYSE:TRIS – Get Rating) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 21,100 shares, a growth of 214.9% from the April 30th total of 6,700 shares. Based on an average daily trading volume, of 64,000 shares, the days-to-cover ratio is presently 0.3 days.
Shares of TRIS stock traded up $0.01 during mid-day trading on Thursday, hitting $9.84. The company’s stock had a trading volume of 28,700 shares, compared to its average volume of 98,690. The stock’s fifty day simple moving average is $9.84. Tristar Acquisition I has a 52 week low of $9.69 and a 52 week high of $9.89.
A number of institutional investors have recently modified their holdings of TRIS. Granby Capital Management LLC bought a new stake in Tristar Acquisition I in the 1st quarter valued at about $247,000. Toroso Investments LLC purchased a new position in shares of Tristar Acquisition I in the 1st quarter worth approximately $257,000. Royal Bank of Canada boosted its stake in shares of Tristar Acquisition I by 85.7% in the 1st quarter. Royal Bank of Canada now owns 65,000 shares of the company’s stock worth $641,000 after buying an additional 30,000 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Tristar Acquisition I in the 1st quarter worth approximately $2,169,000. Finally, Berkley W R Corp purchased a new position in Tristar Acquisition I in the first quarter valued at approximately $2,465,000. 46.54% of the stock is owned by institutional investors and hedge funds.
Tristar Acquisition I Corp. does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It focuses on targeting a telecommunications and technology oriented company.
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