Technology & Telecommunication Acquisition Co. (NASDAQ:TETE) Sees Large Increase in Short Interest

Technology & Telecommunication Acquisition Co. (NASDAQ:TETE) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 6,100 shares, an increase of 238.9% from the March 15th total of 1,800 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 17,200 shares, the short-interest ratio is presently 0.4 days.

Technology & Telecommunication Acquisition Stock Performance

NASDAQ TETE traded up $0.02 on Friday, hitting $11.78. 7,814 shares of the company’s stock were exchanged, compared to its average volume of 15,259. The firm’s 50-day moving average price is $11.65 and its two-hundred day moving average price is $11.51. Technology & Telecommunication Acquisition has a fifty-two week low of $10.59 and a fifty-two week high of $12.25.

Institutional Investors Weigh In On Technology & Telecommunication Acquisition

Several institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC increased its holdings in Technology & Telecommunication Acquisition by 4.1% in the third quarter. Wolverine Asset Management LLC now owns 220,640 shares of the company’s stock valued at $2,504,000 after buying an additional 8,736 shares in the last quarter. Deutsche Bank AG acquired a new stake in Technology & Telecommunication Acquisition in the first quarter valued at $252,000. Virtu Financial LLC acquired a new stake in Technology & Telecommunication Acquisition in the fourth quarter valued at $209,000. HRT Financial LP purchased a new stake in shares of Technology & Telecommunication Acquisition in the 1st quarter worth about $191,000. Finally, State Street Corp grew its stake in Technology & Telecommunication Acquisition by 29.5% in the 3rd quarter. State Street Corp now owns 14,500 shares of the company’s stock valued at $146,000 after acquiring an additional 3,300 shares during the last quarter. 45.39% of the stock is currently owned by hedge funds and other institutional investors.

About Technology & Telecommunication Acquisition

Technology & Telecommunication Acquisition Corporation does not have 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 or entities. Technology & Telecommunication Acquisition Corporation was incorporated in 2021 and is headquartered in Kuala Lumpur, Malaysia.