OTR Acquisition Corp. (NASDAQ:OTRA) was the target of a large increase in short interest in May. As of May 28th, there was short interest totalling 5,300 shares, an increase of 1,666.7% from the May 13th total of 300 shares. Based on an average daily trading volume, of 21,900 shares, the short-interest ratio is currently 0.2 days.
Large investors have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP acquired a new stake in OTR Acquisition in the fourth quarter valued at $8,280,000. Shaolin Capital Management LLC acquired a new position in OTR Acquisition during the first quarter worth about $6,895,000. Polar Asset Management Partners Inc. purchased a new position in OTR Acquisition in the first quarter valued at about $5,926,000. Karpus Management Inc. lifted its position in shares of OTR Acquisition by 720.3% during the 1st quarter. Karpus Management Inc. now owns 524,148 shares of the company’s stock valued at $5,221,000 after acquiring an additional 460,253 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of OTR Acquisition during the 1st quarter worth approximately $4,537,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.
Shares of OTRA traded up $0.02 during mid-day trading on Friday, hitting $10.03. The company’s stock had a trading volume of 191,510 shares, compared to its average volume of 26,230. OTR Acquisition has a 1-year low of $9.75 and a 1-year high of $10.50. The business has a 50-day moving average of $10.03.
OTR Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. The company was incorporated in 2020 and is based in Miami, Florida.
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