Burtech Acquisition Corp. (NASDAQ:BRKH - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 10,200 shares, a growth of 59.4% from the March 15th total of 6,400 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 2,300 shares, the days-to-cover ratio is presently 4.4 days.
Burtech Acquisition Stock Performance
Shares of Burtech Acquisition stock traded down $0.01 on Friday, hitting $11.00. 11,876 shares of the company traded hands, compared to its average volume of 5,665. The firm's 50-day simple moving average is $10.92 and its 200 day simple moving average is $10.76. Burtech Acquisition has a 12-month low of $10.17 and a 12-month high of $11.24.
Institutional Trading of Burtech Acquisition
Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new stake in Burtech Acquisition in the 1st quarter worth $866,000. Citigroup Inc. purchased a new position in shares of Burtech Acquisition during the first quarter valued at about $1,238,000. PNC Financial Services Group Inc. bought a new position in Burtech Acquisition in the first quarter worth about $445,000. Bank of Montreal Can bought a new position in Burtech Acquisition in the first quarter worth about $218,000. Finally, Spring Creek Capital LLC bought a new position in Burtech Acquisition in the first quarter worth about $5,673,000. Hedge funds and other institutional investors own 97.12% of the company's stock.
About Burtech Acquisition
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Burtech Acquisition Corp. does not have significant operations. The company focuses to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire a business, which operates in the retail, lifestyle, hospitality, technology, and real estate markets.
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