Pivotal Investment Co. III (NYSE:PICC) Short Interest Up 46.8% in June

Pivotal Investment Co. III (NYSE:PICCGet Rating) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 11,300 shares, an increase of 46.8% from the May 31st total of 7,700 shares. Based on an average daily trading volume, of 45,400 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company’s shares are sold short.

Shares of Pivotal Investment Co. III stock remained flat at $$9.81 during trading hours on Friday. The stock had a trading volume of 111,044 shares, compared to its average volume of 26,091. Pivotal Investment Co. III has a twelve month low of $9.61 and a twelve month high of $10.25. The company’s fifty day simple moving average is $9.80 and its two-hundred day simple moving average is $9.77.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Spartan Fund Management Inc. purchased a new position in Pivotal Investment Co. III during the 1st quarter worth approximately $33,000. Evolution Capital Management LLC acquired a new stake in Pivotal Investment Co. III during the 4th quarter worth approximately $97,000. Qube Research & Technologies Ltd acquired a new stake in Pivotal Investment Co. III during the 4th quarter worth approximately $102,000. Kohlberg Kravis Roberts & Co. L.P. acquired a new stake in shares of Pivotal Investment Co. III in the 1st quarter valued at approximately $405,000. Finally, Exos Asset Management LLC lifted its holdings in shares of Pivotal Investment Co. III by 3.5% in the 1st quarter. Exos Asset Management LLC now owns 62,070 shares of the company’s stock valued at $607,000 after buying an additional 2,070 shares during the period. 63.37% of the stock is currently owned by hedge funds and other institutional investors.

Pivotal Investment Co. III Company Profile (Get Rating)

Pivotal Investment Corporation III does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2020 and is based in New York, New York.

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