Motive Capital Corp II (NYSE:MTVC – Get Rating) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 38,200 shares, a growth of 2,446.7% from the August 15th total of 1,500 shares. Based on an average trading volume of 40,200 shares, the short-interest ratio is currently 1.0 days.
Motive Capital Corp II Stock Performance
Shares of Motive Capital Corp II stock opened at $10.03 on Wednesday. The business has a 50-day moving average of $9.94 and a 200-day moving average of $9.91. Motive Capital Corp II has a 1-year low of $9.75 and a 1-year high of $10.40.
Hedge Funds Weigh In On Motive Capital Corp II
Large investors have recently modified their holdings of the stock. Bank of America Corp DE bought a new position in shares of Motive Capital Corp II during the first quarter worth about $496,000. Cubist Systematic Strategies LLC lifted its position in shares of Motive Capital Corp II by 7.6% during the second quarter. Cubist Systematic Strategies LLC now owns 1,670,543 shares of the company’s stock worth $16,522,000 after purchasing an additional 117,651 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Motive Capital Corp II during the second quarter worth about $222,000. Karpus Management Inc. bought a new position in shares of Motive Capital Corp II during the second quarter worth about $1,390,000. Finally, Highbridge Capital Management LLC bought a new position in shares of Motive Capital Corp II during the first quarter worth about $64,000. Institutional investors own 82.40% of the company’s stock.
About Motive Capital Corp II
Motive Capital Corp II does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the financial software and information services companies. The company was incorporated in 2021 and is based in New York, New York.
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