Onyx Acquisition Co. I (NASDAQ:ONYX) Sees Large Increase in Short Interest

Onyx Acquisition Co. I (NASDAQ:ONYX - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 1,500 shares, a growth of 200.0% from the March 15th total of 500 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 7,600 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Onyx Acquisition Co. I

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in Onyx Acquisition Co. I during the first quarter valued at approximately $6,817,000. Citigroup Inc. acquired a new position in Onyx Acquisition Co. I during the first quarter valued at approximately $1,891,000. Bank of Montreal Can acquired a new position in Onyx Acquisition Co. I during the first quarter valued at approximately $500,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Onyx Acquisition Co. I during the first quarter valued at approximately $499,000. Finally, Spring Creek Capital LLC acquired a new position in Onyx Acquisition Co. I during the first quarter valued at approximately $4,491,000. 23.34% of the stock is currently owned by hedge funds and other institutional investors.

Onyx Acquisition Co. I Stock Performance

NASDAQ:ONYX remained flat at $11.17 during mid-day trading on Thursday. 1,749 shares of the company's stock traded hands, compared to its average volume of 16,036. The business has a 50-day simple moving average of $11.13 and a 200 day simple moving average of $11.02. Onyx Acquisition Co. I has a 52-week low of $10.52 and a 52-week high of $12.00.

About Onyx Acquisition Co. I

Onyx Acquisition Co I 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. It intends to focus on construction technology and general industrials.

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