Macondray Capital Acquisition Corp. I (NASDAQ:DRAY) Sees Significant Increase in Short Interest

Macondray Capital Acquisition Corp. I (NASDAQ:DRAYGet Rating) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 22,100 shares, an increase of 2,662.5% from the May 15th total of 800 shares. Based on an average daily volume of 58,200 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are sold short.

A number of hedge funds and other institutional investors have recently modified their holdings of DRAY. Walleye Capital LLC acquired a new position in shares of Macondray Capital Acquisition Corp. I during the 1st quarter worth about $670,000. Nomura Holdings Inc. acquired a new position in shares of Macondray Capital Acquisition Corp. I during the 1st quarter worth about $2,517,000. Walleye Trading LLC acquired a new position in shares of Macondray Capital Acquisition Corp. I during the 1st quarter worth about $375,000. Glazer Capital LLC acquired a new position in shares of Macondray Capital Acquisition Corp. I during the 1st quarter worth about $2,752,000. Finally, Blackstone Inc. acquired a new position in shares of Macondray Capital Acquisition Corp. I during the 1st quarter worth about $99,000. Institutional investors own 66.15% of the company’s stock.

NASDAQ DRAY traded down $0.01 during trading hours on Friday, hitting $9.92. 254,102 shares of the company were exchanged, compared to its average volume of 77,374. The company has a 50 day moving average of $9.92 and a two-hundred day moving average of $9.87. Macondray Capital Acquisition Corp. I has a 52-week low of $9.61 and a 52-week high of $10.18.

About Macondray Capital Acquisition Corp. I (Get Rating)

Macondray Capital Acquisition Corp. I does not have significant operations. The company intends to effect a merger or mergers, amalgamation, share exchange, share purchase, asset acquisition, reorganization, or similar business combination with one or more businesses. It intends to focus on companies in the software, data and technology, media, and telecom industries.

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