Fintech Ecosystem Development Corp. (NASDAQ:FEXD) Short Interest Up 18.2% in August

Fintech Ecosystem Development Corp. (NASDAQ:FEXD) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 2,600 shares, an increase of 18.2% from the August 15th total of 2,200 shares. Based on an average trading volume of 9,500 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are short sold.

Fintech Ecosystem Development Price Performance

Shares of NASDAQ:FEXD opened at $10.60 on Tuesday. The firm’s 50 day moving average price is $10.68 and its 200 day moving average price is $10.59. Fintech Ecosystem Development has a fifty-two week low of $10.04 and a fifty-two week high of $11.00.

Insider Activity at Fintech Ecosystem Development

In related news, major shareholder Mizuho Securities Usa Llc sold 201,537 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $10.71, for a total value of $2,158,461.27. Following the sale, the insider now owns 282,000 shares of the company’s stock, valued at $3,020,220. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of Fintech Ecosystem Development

Hedge funds have recently added to or reduced their stakes in the company. Caas Capital Management LP raised its holdings in Fintech Ecosystem Development by 17.5% during the second quarter. Caas Capital Management LP now owns 32,230 shares of the company’s stock worth $340,000 after purchasing an additional 4,800 shares in the last quarter. Kim LLC acquired a new stake in Fintech Ecosystem Development during the second quarter worth approximately $1,137,000. Mizuho Securities USA LLC raised its holdings in Fintech Ecosystem Development by 2,300.0% during the second quarter. Mizuho Securities USA LLC now owns 484,337 shares of the company’s stock worth $5,086,000 after purchasing an additional 464,156 shares in the last quarter. Spartan Fund Management Inc. acquired a new stake in Fintech Ecosystem Development during the second quarter worth approximately $2,166,000. Finally, Glazer Capital LLC acquired a new stake in Fintech Ecosystem Development during the first quarter worth approximately $1,472,000.

About Fintech Ecosystem Development

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.