Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) Trading Down 1.4% - Here's Why

Key Points

• Alchemy Investments Acquisition Corp 1's stock price decreased by 1.4%, trading as low as $11.48 with a recent trading price of $11.56.
• A hedge fund, Alpine Global Management LLC, acquired 145,662 shares of Alchemy Investments, valued at approximately $1,595,000, bringing its ownership to about 3.22%.
• 92.46% of the stock is currently held by hedge funds and other institutional investors, indicating strong institutional interest in the company.

Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY - Get Free Report)'s share price dropped 1.4% on Friday . The company traded as low as $11.48 and last traded at $11.56. Approximately 2 shares traded hands during trading, a decline of 97% from the average daily volume of 58 shares. The stock had previously closed at $11.72.

Alchemy Investments Acquisition Corp 1 Price Performance

The company has a 50 day moving average price of $11.52 and a 200 day moving average price of $11.40.

Hedge Funds Weigh In On Alchemy Investments Acquisition Corp 1

A hedge fund recently bought a new stake in Alchemy Investments Acquisition Corp 1 stock. Alpine Global Management LLC purchased a new position in Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 145,662 shares of the company's stock, valued at approximately $1,595,000. Alpine Global Management LLC owned 3.22% of Alchemy Investments Acquisition Corp 1 at the end of the most recent quarter. Hedge funds and other institutional investors own 92.46% of the company's stock.

About Alchemy Investments Acquisition Corp 1

Alchemy Investments Acquisition Corp 1, a special purpose acquisition company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It plans to focus on companies acquiring, processing, analysing, and utilizing data acquired from various systems and sources.