XPAC Acquisition Corp. (NASDAQ:XPAX) Sees Large Drop in Short Interest

XPAC Acquisition Corp. (NASDAQ:XPAXGet Rating) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 2,600 shares, a decline of 36.6% from the April 30th total of 4,100 shares. Based on an average daily volume of 14,800 shares, the days-to-cover ratio is currently 0.2 days.

Shares of XPAX stock opened at $9.76 on Friday. XPAC Acquisition has a 52-week low of $9.59 and a 52-week high of $9.80. The stock has a 50 day moving average price of $9.72 and a 200 day moving average price of $9.69.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Basso Capital Management L.P. grew its stake in XPAC Acquisition by 2.5% during the 1st quarter. Basso Capital Management L.P. now owns 192,518 shares of the company’s stock worth $1,864,000 after buying an additional 4,734 shares during the last quarter. Verition Fund Management LLC lifted its holdings in shares of XPAC Acquisition by 4.8% in the 1st quarter. Verition Fund Management LLC now owns 231,403 shares of the company’s stock valued at $2,240,000 after buying an additional 10,692 shares during the period. Goldman Sachs Group Inc. acquired a new position in XPAC Acquisition in the 3rd quarter worth about $224,000. Ancora Advisors LLC acquired a new position in XPAC Acquisition in the 3rd quarter worth about $269,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in XPAC Acquisition in the 4th quarter worth about $416,000. 23.90% of the stock is owned by hedge funds and other institutional investors.

About XPAC Acquisition (Get Rating)

XPAC Acquisition Corp. does not have significant operations. It intends to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or other similar 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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