Pine Technology Acquisition Corp. (NASDAQ:PTOC) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,700 shares, a growth of 183.3% from the August 15th total of 600 shares. Based on an average trading volume of 30,700 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are sold short.
Several hedge funds and other institutional investors have recently modified their holdings of PTOC. Marshall Wace LLP bought a new position in shares of Pine Technology Acquisition during the 2nd quarter worth approximately $13,566,000. Linden Advisors LP bought a new stake in Pine Technology Acquisition in the 2nd quarter valued at $11,628,000. MMCAP International Inc. SPC bought a new stake in Pine Technology Acquisition in the 2nd quarter valued at $10,827,000. Goldman Sachs Group Inc. bought a new stake in Pine Technology Acquisition in the 2nd quarter valued at $10,564,000. Finally, CVI Holdings LLC bought a new stake in Pine Technology Acquisition in the 2nd quarter valued at $9,690,000.
Shares of NASDAQ PTOC opened at $9.68 on Friday. Pine Technology Acquisition has a 12 month low of $9.60 and a 12 month high of $10.00. The business’s 50 day simple moving average is $9.67.
Pine Technology Acquisition Corp., a blank check company, intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to identify the business in the areas of InsurTech or insurance. The company was incorporated in 2020 and is based in Aurora, Ohio.
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