Andretti Acquisition Corp. II (NASDAQ:POLE) Sees Significant Decrease in Short Interest

Key Points

• Andretti Acquisition Corp. II experienced a significant decrease in short interest, dropping 33.3% from 2,100 shares to 1,400 shares as of September 30th.
• Recent institutional activity includes Calamos Advisors acquiring a new position valued at approximately $8.37 million and Wolverine Asset Management increasing its stake by 234.9%.
• Wall Street analysts currently hold an average rating of "Sell" for Andretti Acquisition Corp. II, with Weiss Ratings reaffirming a "sell (d-)" rating on October 8th.

Andretti Acquisition Corp. II (NASDAQ:POLE - Get Free Report) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 1,400 shares, a decline of 33.3% from the September 15th total of 2,100 shares. Based on an average daily trading volume, of 15,300 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 15,300 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in POLE. Calamos Advisors LLC acquired a new position in shares of Andretti Acquisition Corp. II in the 1st quarter valued at about $8,374,000. Wolverine Asset Management LLC lifted its stake in shares of Andretti Acquisition Corp. II by 234.9% in the 1st quarter. Wolverine Asset Management LLC now owns 658,099 shares of the company's stock valued at $6,667,000 after purchasing an additional 461,607 shares during the period. Mizuho Securities USA LLC acquired a new position in shares of Andretti Acquisition Corp. II in the 1st quarter valued at about $2,532,000. MMCAP International Inc. SPC acquired a new position in shares of Andretti Acquisition Corp. II in the 1st quarter valued at about $5,875,000. Finally, Westchester Capital Management LLC lifted its stake in shares of Andretti Acquisition Corp. II by 63.2% in the 1st quarter. Westchester Capital Management LLC now owns 1,161,916 shares of the company's stock valued at $11,793,000 after purchasing an additional 450,000 shares during the period.

Andretti Acquisition Corp. II Price Performance

Shares of NASDAQ:POLE opened at $10.55 on Wednesday. The business's 50-day moving average is $10.46 and its 200-day moving average is $10.37. Andretti Acquisition Corp. II has a 1 year low of $9.94 and a 1 year high of $11.16.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Andretti Acquisition Corp. II in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of "Sell".

Andretti Acquisition Corp. II Company Profile

Andretti Acquisition Corp. II is a blank check company. It formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Andretti Acquisition Corp. II is based in INDIANAPOLIS, IN.

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