PowerUp Acquisition Corp. (NASDAQ:PWUP) Sees Large Growth in Short Interest

PowerUp Acquisition Corp. (NASDAQ:PWUP) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,600 shares, an increase of 23.1% from the March 15th total of 1,300 shares. Based on an average daily volume of 9,200 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Trading of PowerUp Acquisition

Several hedge funds have recently added to or reduced their stakes in PWUP. Captrust Financial Advisors acquired a new position in PowerUp Acquisition in the 3rd quarter valued at $121,000. Robinson Capital Management LLC raised its holdings in PowerUp Acquisition by 247.8% in the 3rd quarter. Robinson Capital Management LLC now owns 11,250 shares of the company’s stock valued at $130,000 after acquiring an additional 8,015 shares in the last quarter. Toroso Investments LLC acquired a new position in PowerUp Acquisition in the 3rd quarter valued at $130,000. Tuttle Capital Management LLC acquired a new position in PowerUp Acquisition in the 4th quarter valued at $185,000. Finally, Glazer Capital LLC acquired a new position in PowerUp Acquisition in the 4th quarter valued at $334,000. 19.17% of the stock is owned by institutional investors and hedge funds.

PowerUp Acquisition Stock Performance

NASDAQ:PWUP traded up $0.01 during mid-day trading on Monday, hitting $11.12. 47,348 shares of the stock were exchanged, compared to its average volume of 17,679. The firm’s 50-day simple moving average is $11.01 and its 200 day simple moving average is $10.98. PowerUp Acquisition has a fifty-two week low of $10.07 and a fifty-two week high of $11.80.

PowerUp Acquisition Company Profile

PowerUp Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to identify and acquire a business within the interactive media, digital media, sports, entertainment, and/or leisure areas.