Springwater Special Situations Corp. (NASDAQ:SWSS – Get Rating) saw a surge in short-term interest during the month of May. As of May 15, there was short interest totaling 13,900 shares, an increase of 51.1% from the April 30 total of 9,200 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 6,400 shares, the day-to-cover ratio is currently 2.2 days.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Cohanzick Management LLC acquired a new stock position in Springwater Special Situations during Q1 worth approximately $25,000. Wolverine Asset Management LLC acquired a new position in Springwater Special Situations in Q4, valued at approximately $105,000. Walleye Trading LLC acquired a new stake in shares of Springwater Special Situations during the fourth quarter at a value of $123,000. Walleye Capital LLC acquired a new stake in Springwater Special Situations in the fourth quarter valued at $207,000. Finally, Ancora Advisors LLC acquired a new stake in Springwater Special Situations in the third quarter at a value of $215,000. 69.45% of the shares are held by institutional investors.
Shares of SWSS opened at $9.85 on Friday. Springwater Special Situations has a 52-week low of $9.71 and a 52-week high of $10.10. The stock has a 50-day simple moving average of $9.87 and a 200-day simple moving average of $9.83.
About Springwater Special Situations (Get an evaluation)
Springwater Special Situations Corp. has no significant activities. It intends to effect a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. It was incorporated in 2020 and is based in New York, New York.
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