ScION Tech Growth II (NASDAQ:SCOB) Sees Large Drop in Short Interest

ScION Tech Growth II (NASDAQ:SCOBGet Rating) was the target of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 7,100 shares, a decrease of 93.1% from the May 15th total of 103,300 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 108,500 shares, the days-to-cover ratio is presently 0.1 days.

Shares of SCOB stock traded up $0.01 during trading hours on Friday, hitting $9.81. The stock had a trading volume of 117 shares, compared to its average volume of 105,846. The firm has a market capitalization of $423.01 million, a PE ratio of 65.40 and a beta of -0.06. ScION Tech Growth II has a twelve month low of $9.60 and a twelve month high of $9.95. The stock’s 50 day moving average is $9.81 and its 200 day moving average is $9.77.

ScION Tech Growth II (NASDAQ:SCOBGet Rating) last issued its quarterly earnings results on Friday, April 15th. The company reported $0.06 earnings per share for the quarter.

Several hedge funds have recently added to or reduced their stakes in SCOB. Royal Bank of Canada purchased a new position in shares of ScION Tech Growth II during the first quarter valued at approximately $67,000. Context Capital Management LLC purchased a new position in shares of ScION Tech Growth II during the first quarter valued at approximately $137,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of ScION Tech Growth II during the third quarter valued at approximately $244,000. JPMorgan Chase & Co. purchased a new position in shares of ScION Tech Growth II during the first quarter valued at approximately $367,000. Finally, Taconic Capital Advisors LP purchased a new position in shares of ScION Tech Growth II during the first quarter valued at approximately $368,000. Institutional investors and hedge funds own 64.16% of the company’s stock.

ScION Tech Growth II Company Profile (Get Rating)

ScION Tech Growth II does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus its search on technology-enabled businesses that offer technology solutions, and broader technology software and services in the financial services sector.

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