Cartica Acquisition Corp (NASDAQ:CITE) Sees Large Drop in Short Interest

Cartica Acquisition Corp (NASDAQ:CITE) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 2,500 shares, a decline of 47.9% from the February 29th total of 4,800 shares. Based on an average daily volume of 16,500 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the company’s stock are sold short.

Cartica Acquisition Price Performance

Shares of CITE traded down $0.01 on Friday, hitting $11.09. The company’s stock had a trading volume of 3,508 shares, compared to its average volume of 19,123. The firm’s fifty day moving average price is $11.02 and its 200-day moving average price is $10.90. Cartica Acquisition has a fifty-two week low of $10.34 and a fifty-two week high of $12.67.

Hedge Funds Weigh In On Cartica Acquisition

Institutional investors and hedge funds have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC acquired a new position in Cartica Acquisition during the 1st quarter worth approximately $106,000. State Street Corp acquired a new position in Cartica Acquisition during the 2nd quarter worth approximately $133,000. Boothbay Fund Management LLC acquired a new position in Cartica Acquisition during the 1st quarter worth approximately $165,000. Citadel Advisors LLC acquired a new position in Cartica Acquisition during the 2nd quarter worth approximately $187,000. Finally, Sea Otter Advisors LLC acquired a new position in Cartica Acquisition during the 1st quarter worth approximately $187,000. 42.21% of the stock is currently owned by institutional investors and hedge funds.

About Cartica Acquisition

Cartica Acquisition Corp does not have any significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to identify and complete a business combination in the technology sector in India.