StoneBridge Acquisition Co. (NASDAQ:APAC) Sees Significant Growth in Short Interest

StoneBridge Acquisition Co. (NASDAQ:APAC) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,600 shares, an increase of 62.5% from the August 15th total of 1,600 shares. Based on an average daily trading volume, of 8,300 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On StoneBridge Acquisition

Several large investors have recently made changes to their positions in APAC. Bank of America Corp DE boosted its position in shares of StoneBridge Acquisition by 47.9% during the 1st quarter. Bank of America Corp DE now owns 8,340 shares of the company’s stock valued at $83,000 after purchasing an additional 2,700 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of StoneBridge Acquisition during the 1st quarter valued at about $241,000. Geode Capital Management LLC bought a new position in shares of StoneBridge Acquisition during the 4th quarter valued at about $246,000. Prelude Capital Management LLC bought a new position in shares of StoneBridge Acquisition during the 1st quarter valued at about $337,000. Finally, Dakota Wealth Management boosted its position in shares of StoneBridge Acquisition by 28.9% during the 1st quarter. Dakota Wealth Management now owns 44,200 shares of the company’s stock valued at $465,000 after purchasing an additional 9,900 shares in the last quarter. Institutional investors own 42.83% of the company’s stock.

StoneBridge Acquisition Price Performance

StoneBridge Acquisition stock opened at $10.99 on Friday. StoneBridge Acquisition has a 52 week low of $10.05 and a 52 week high of $11.31. The company’s 50-day moving average price is $10.97 and its two-hundred day moving average price is $10.75.

About StoneBridge Acquisition

StoneBridge Acquisition Corporation 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. The company was incorporated in 2021 and is based in New York, New York.