The technology and telecom buyout company (NASDAQ: TETE – Rated ) was the target of a sharp increase in short interest in December. As of December 30, short interest totaled 2,000 shares, an increase of 25.0% from 1,600 shares on December 15. Based on an average daily volume of 26,900 shares, the current days-to-cover ratio is 0.1 days. Currently, 0.0% of the company’s shares are short-sold.
Institutional transactions for technology and telecommunications acquisitions
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Many institutional investors and hedge funds have bought and sold the company’s shares recently. Weiss Asset Management LP increased its stake in Technology & Telecommunications Acquisition by 2.2 percent in the third quarter. Weiss Asset Management LP now owns 230,500 shares of the company worth $2,332,000 after buying an additional 5,000 shares last quarter. State Street Corp increased its stake in technology and telecom acquisitions by 29.5% in the third quarter. After purchasing an additional 3,300 shares last quarter, State Street Corp now owns 14,500 shares of the company’s stock, worth $146,000. Polar Asset Management Partners Inc. increased its stake in technology and telecom acquisitions by 4.7 percent in the third quarter. Polar Asset Management Partners Inc. now owns 555,850 shares of the company worth $5,614,000 after purchasing an additional 25,050 shares last quarter. First Trust Capital Management LP purchased a new stake in Technology & Telecommunications Acquisition in the third quarter, valued at approximately $3,146,000. Finally, Shaolin Capital Management LLC increased its stake in Technology & Telecommunications Acquisition by 14.8% during the third quarter. Shaolin Capital Management LLC now owns 660,000 shares of the company worth $6,666,000 after acquiring an additional 85,000 shares during that period. 60.80% of the shares are currently held by institutional investors.
Tech and telecom buyout stocks rose 0.2 percent
Nasdaq: TETE rose $0.02 to $10.35 on Friday. The stock had 607 shares traded, compared with an average volume of 63,742 shares. The 12-month low for the Technology & Telecom buyout was $9.88 and the 12-month high was $10.96. The company’s 50-day simple moving average is $10.28 and its 200-day simple moving average is $10.16.
Technology & Telecom Acquisition Company Profiles
Technology & Telecommunication Acquisition Corporation is focused on a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. It intends to acquire companies in the technology and telecommunications sector in Malaysia.
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