Plum Acquisition Corp. IV (NASDAQ:PLMK) Sees Significant Drop in Short Interest

Plum Acquisition Corp. IV (NASDAQ:PLMK) was the recipient of a significant drop in short interest in February. As of February 13th, there was short interest totaling 938 shares, a drop of 89.7% from the January 29th total of 9,065 shares. Based on an average trading volume of 56,232 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are short sold. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 56,232 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Plum Acquisition Corp. IV in a research report on Friday, January 9th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Plum Acquisition Corp. IV Stock Performance

PLMK traded up $0.01 during trading on Wednesday, hitting $10.51. 805 shares of the company’s stock traded hands, compared to its average volume of 40,534. The company’s 50 day simple moving average is $10.49 and its two-hundred day simple moving average is $10.40. Plum Acquisition Corp. IV has a 12-month low of $9.99 and a 12-month high of $10.64.

Institutional Investors Weigh In On Plum Acquisition Corp. IV

Large investors have recently bought and sold shares of the business. Glazer Capital LLC raised its position in Plum Acquisition Corp. IV by 1.7% in the 4th quarter. Glazer Capital LLC now owns 783,339 shares of the company’s stock worth $8,170,000 after buying an additional 13,107 shares during the last quarter. Berkley W R Corp grew its stake in shares of Plum Acquisition Corp. IV by 34.9% in the second quarter. Berkley W R Corp now owns 768,888 shares of the company’s stock worth $7,896,000 after acquiring an additional 199,045 shares during the period. Governors Lane LP raised its holdings in shares of Plum Acquisition Corp. IV by 133.3% during the fourth quarter. Governors Lane LP now owns 700,000 shares of the company’s stock valued at $7,315,000 after purchasing an additional 399,900 shares during the last quarter. Karpus Management Inc. lifted its position in Plum Acquisition Corp. IV by 52.1% during the second quarter. Karpus Management Inc. now owns 685,225 shares of the company’s stock valued at $7,037,000 after purchasing an additional 234,625 shares during the period. Finally, Wolverine Asset Management LLC boosted its holdings in Plum Acquisition Corp. IV by 90.5% in the second quarter. Wolverine Asset Management LLC now owns 648,206 shares of the company’s stock worth $6,677,000 after purchasing an additional 308,024 shares during the last quarter.

About Plum Acquisition Corp. IV

Plum Acquisition Corp. IV is a special purpose acquisition company incorporated in the Cayman Islands. Trading on the Nasdaq under the ticker PLMK, the company has no operating history and was formed for the purpose of effecting one or more business combinations, such as a merger, capital stock exchange, asset acquisition or similar transaction.

The company completed its initial public offering, raising capital through the sale of units comprised of ordinary shares and warrants. The net proceeds of the offering are held in a trust account, pending the identification and consummation of a suitable business combination within the prescribed timeframe, generally 24 months from the closing date of the offering.

Although Plum Acquisition Corp.