Pono Capital (NASDAQ:PONO) Shares Down 16.6%

Pono Capital Corp. (NASDAQ:PONOGet Free Report) shares traded down 16.6% on Tuesday . The stock traded as low as $5.17 and last traded at $5.51. 118,260 shares traded hands during trading, an increase of 30% from the average session volume of 90,705 shares. The stock had previously closed at $6.61.

Pono Capital Stock Performance

The firm has a 50-day simple moving average of $0.97 and a two-hundred day simple moving average of $0.66.

Institutional Investors Weigh In On Pono Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PONO. Sea Otter Advisors LLC boosted its stake in shares of Pono Capital by 20.3% during the 4th quarter. Sea Otter Advisors LLC now owns 67,494 shares of the company’s stock worth $708,000 after acquiring an additional 11,402 shares in the last quarter. Glazer Capital LLC purchased a new stake in shares of Pono Capital during the 4th quarter worth about $207,000. Millennium Management LLC boosted its stake in shares of Pono Capital by 73.3% during the 2nd quarter. Millennium Management LLC now owns 178,758 shares of the company’s stock worth $1,809,000 after acquiring an additional 75,621 shares in the last quarter. EHP Funds Inc. purchased a new stake in shares of Pono Capital during the 1st quarter worth about $150,000. Finally, UBS Group AG boosted its stake in shares of Pono Capital by 4,175.0% during the 1st quarter. UBS Group AG now owns 2,565 shares of the company’s stock worth $26,000 after acquiring an additional 2,505 shares in the last quarter. 74.11% of the stock is owned by institutional investors and hedge funds.

Pono Capital Company Profile

(Get Free Report)

Pono Capital Corp. 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 identify business opportunities in the field of enterprise security and operations applications, cloud-based content and digital streaming services, drone technology and service, artificial intelligence, consumer healthcare and wellness, biomedical technology, entertainment/gaming, distance learning, and online retail and e-sports.

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