Technology & Telecommunication Acquisition Co. (NASDAQ:TETE - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 6,100 shares, a growth of 238.9% from the March 15th total of 1,800 shares. Approximately 0.1% of the company's shares are sold short. Based on an average daily trading volume, of 17,200 shares, the short-interest ratio is currently 0.4 days.
Institutional Investors Weigh In On Technology & Telecommunication Acquisition
Large investors have recently added to or reduced their stakes in the business. Glazer Capital LLC increased its stake in Technology & Telecommunication Acquisition by 4.4% in the fourth quarter. Glazer Capital LLC now owns 1,036,929 shares of the company's stock valued at $10,675,000 after purchasing an additional 43,956 shares in the last quarter. Saba Capital Management L.P. bought a new stake in Technology & Telecommunication Acquisition in the 1st quarter valued at about $6,474,000. Millennium Management LLC raised its stake in Technology & Telecommunication Acquisition by 43.9% during the 2nd quarter. Millennium Management LLC now owns 535,365 shares of the company's stock worth $5,354,000 after buying an additional 163,375 shares during the period. Starboard Value LP bought a new position in Technology & Telecommunication Acquisition in the first quarter worth approximately $4,544,000. Finally, Wolverine Asset Management LLC grew its stake in Technology & Telecommunication Acquisition by 52.6% in the fourth quarter. Wolverine Asset Management LLC now owns 336,717 shares of the company's stock valued at $3,876,000 after acquiring an additional 116,077 shares during the period. Institutional investors and hedge funds own 45.39% of the company's stock.
Technology & Telecommunication Acquisition Stock Performance
TETE traded up $0.01 during trading on Thursday, reaching $11.76. 200 shares of the stock traded hands, compared to its average volume of 16,885. The stock's 50-day moving average is $11.64 and its 200 day moving average is $11.51. Technology & Telecommunication Acquisition has a 12 month low of $10.55 and a 12 month high of $12.25.
About Technology & Telecommunication Acquisition
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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.
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