Fintech Ecosystem Development Corp. (NASDAQ:FEXD) Sees Significant Drop in Short Interest

Fintech Ecosystem Development Corp. (NASDAQ:FEXD) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 12,400 shares, a decrease of 7.5% from the March 15th total of 13,400 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 28,800 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Fintech Ecosystem Development

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Fintech Ecosystem Development during the 4th quarter valued at $105,000. Tuttle Capital Management LLC acquired a new stake in shares of Fintech Ecosystem Development during the 3rd quarter valued at $159,000. Fir Tree Capital Management LP acquired a new stake in shares of Fintech Ecosystem Development during the 1st quarter valued at $355,000. BCK Capital Management LP purchased a new stake in shares of Fintech Ecosystem Development in the fourth quarter valued at $401,000. Finally, EHP Funds Inc. purchased a new stake in shares of Fintech Ecosystem Development in the first quarter valued at $498,000.

Fintech Ecosystem Development Stock Performance

Shares of NASDAQ:FEXD remained flat at $11.04 during trading on Wednesday. The stock had a trading volume of 357 shares, compared to its average volume of 48,224. The stock has a 50 day simple moving average of $10.89 and a two-hundred day simple moving average of $10.78. Fintech Ecosystem Development has a 52 week low of $10.49 and a 52 week high of $11.04.

Fintech Ecosystem Development Company Profile

Fintech Ecosystem Development Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire companies in the financial technology development sector in South Asia.