Tuscan Holdings Corp. II (NASDAQ:THCA) Sees Large Decline in Short Interest

Tuscan Holdings Corp. II (NASDAQ:THCA) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 41,900 shares, a drop of 38.9% from the March 15th total of 68,600 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 313,100 shares, the days-to-cover ratio is presently 0.1 days.

A number of large investors have recently modified their holdings of THCA. California Public Employees Retirement System lifted its position in Tuscan Holdings Corp. II by 3.1% in the 3rd quarter. California Public Employees Retirement System now owns 36,520 shares of the company’s stock valued at $368,000 after purchasing an additional 1,100 shares during the last quarter. FNY Investment Advisers LLC lifted its position in Tuscan Holdings Corp. II by 8,546.4% in the 4th quarter. FNY Investment Advisers LLC now owns 31,300 shares of the company’s stock valued at $344,000 after purchasing an additional 30,938 shares during the last quarter. Sage Mountain Advisors LLC bought a new stake in Tuscan Holdings Corp. II in the 4th quarter valued at about $258,000. Ibex Investors LLC bought a new stake in Tuscan Holdings Corp. II in the 4th quarter valued at about $1,101,000. Finally, Periscope Capital Inc. lifted its position in Tuscan Holdings Corp. II by 40.3% in the 4th quarter. Periscope Capital Inc. now owns 780,600 shares of the company’s stock valued at $8,594,000 after purchasing an additional 224,400 shares during the last quarter. Hedge funds and other institutional investors own 67.48% of the company’s stock.

Shares of NASDAQ:THCA opened at $10.09 on Friday. The firm has a 50-day moving average price of $10.15. Tuscan Holdings Corp. II has a fifty-two week low of $9.80 and a fifty-two week high of $11.65.

About Tuscan Holdings Corp. II

Tuscan Holdings Corp. II does not have significant operations. It intends to enter into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. The company was incorporated in 2019 and is based in New York, New York.

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