Elliott Opportunity II Corp. (NYSE:EOCW – Get Rating) was the recipient of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 4,800 shares, a decline of 20.0% from the May 15th total of 6,000 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 51,700 shares, the days-to-cover ratio is currently 0.1 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EOCW. Mariner Investment Group LLC acquired a new stake in Elliott Opportunity II in the 4th quarter valued at approximately $489,000. HighTower Advisors LLC boosted its position in shares of Elliott Opportunity II by 4.8% in the fourth quarter. HighTower Advisors LLC now owns 1,263,568 shares of the company’s stock worth $12,353,000 after purchasing an additional 57,644 shares during the period. Kawa Capital Management Inc purchased a new position in shares of Elliott Opportunity II in the fourth quarter valued at $342,000. Saba Capital Management L.P. raised its holdings in shares of Elliott Opportunity II by 75.0% in the 4th quarter. Saba Capital Management L.P. now owns 350,000 shares of the company’s stock worth $3,420,000 after purchasing an additional 150,000 shares during the period. Finally, PenderFund Capital Management Ltd. purchased a new stake in shares of Elliott Opportunity II during the fourth quarter valued at $79,000. 52.00% of the stock is owned by institutional investors.
Shares of Elliott Opportunity II stock traded up $0.01 on Thursday, hitting $9.72. 405 shares of the company traded hands, compared to its average volume of 53,053. Elliott Opportunity II has a 52 week low of $9.55 and a 52 week high of $10.11. The business has a 50-day simple moving average of $9.76 and a 200 day simple moving average of $9.75.
Elliott Opportunity II Corp. does not have significant operations. It intends to effect a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets in the technology sector. The company was incorporated in 2021 and is based in West Palm Beach, Florida.
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