Finnovate Acquisition Corp. (NASDAQ:FNVT) Short Interest Up 18.4% in July

Finnovate Acquisition Corp. (NASDAQ:FNVTGet Rating) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 10,300 shares, an increase of 18.4% from the June 30th total of 8,700 shares. Based on an average daily volume of 34,900 shares, the days-to-cover ratio is currently 0.3 days.

Finnovate Acquisition Stock Performance

FNVT opened at $10.02 on Friday. The business has a fifty day moving average of $9.95 and a 200 day moving average of $9.92. Finnovate Acquisition has a 52-week low of $9.75 and a 52-week high of $10.67.

Hedge Funds Weigh In On Finnovate Acquisition

Large investors have recently bought and sold shares of the business. Wealthspring Capital LLC purchased a new position in Finnovate Acquisition during the 1st quarter valued at $228,000. Royal Bank of Canada boosted its holdings in Finnovate Acquisition by 8.7% during the 1st quarter. Royal Bank of Canada now owns 47,337 shares of the company’s stock valued at $469,000 after acquiring an additional 3,800 shares during the period. Whitebox Advisors LLC purchased a new position in Finnovate Acquisition during the 4th quarter valued at $593,000. Segantii Capital Management Ltd purchased a new position in Finnovate Acquisition during the 1st quarter valued at $743,000. Finally, Bank of Montreal Can bought a new stake in Finnovate Acquisition during the 1st quarter valued at $758,000. Hedge funds and other institutional investors own 49.11% of the company’s stock.

About Finnovate Acquisition

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Finnovate Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to acquire Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service (FAAS), banking as a service (BAAS), cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.

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