CITIC Capital Acquisition Corp. (NYSE:CCAC) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,980,000 shares, a growth of 218.7% from the August 15th total of 621,200 shares. Currently, 7.2% of the shares of the stock are sold short. Based on an average daily volume of 263,900 shares, the days-to-cover ratio is currently 7.5 days.
A number of institutional investors have recently added to or reduced their stakes in CCAC. Ancora Advisors LLC bought a new position in shares of CITIC Capital Acquisition during the second quarter valued at $99,000. Credit Suisse AG acquired a new stake in shares of CITIC Capital Acquisition during the 1st quarter worth about $120,000. Squarepoint Ops LLC bought a new position in CITIC Capital Acquisition during the 1st quarter valued at about $173,000. Warberg Asset Management LLC acquired a new position in CITIC Capital Acquisition in the second quarter valued at about $197,000. Finally, OLD Mission Capital LLC acquired a new position in CITIC Capital Acquisition in the third quarter valued at about $196,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.
Shares of CITIC Capital Acquisition stock traded down $0.02 during midday trading on Wednesday, hitting $9.96. 126 shares of the company were exchanged, compared to its average volume of 432,361. The firm has a 50 day simple moving average of $9.92 and a 200-day simple moving average of $10.00. CITIC Capital Acquisition has a 52 week low of $9.67 and a 52 week high of $12.20.
CITIC Capital Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in Beijing, the People's Republic of China.
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