Newbridge Acquisition Ltd (NASDAQ:NBRGU) Stock Short Interest Report for September

Newbridge Acquisition Ltd (NASDAQ:NBRGU) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 90 shares. Based on an average daily trading volume, of 215 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Newbridge Acquisition

An institutional investor recently bought a new position in Newbridge Acquisition stock. Rivernorth Capital Management LLC purchased a new position in Newbridge Acquisition Ltd (NASDAQ:NBRGU) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 325,000 shares of the company’s stock, valued at approximately $3,260,000.

Newbridge Acquisition Stock Performance

Newbridge Acquisition stock opened at $10.39 on Friday. Newbridge Acquisition has a 1 year low of $9.93 and a 1 year high of $11.40. The firm’s 50 day moving average price is $10.27 and its 200-day moving average price is $10.19.

Newbridge Acquisition Company Profile

Newbridge Acquisition is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Its potential transaction could take the form of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar combination.

Unlike an operating company, Newbridge Acquisition does not have established products, services or commercial operations of its own. Its activities are focused on raising capital through a public offering, placing proceeds into a trust account and evaluating prospective acquisition targets.

The company’s publicly traded units are listed on the Nasdaq under the symbol NBRGU.