Pioneer Acquisition I (NASDAQ:PACHU) Trading 0.2% Higher – Should You Buy?

Pioneer Acquisition I Corp (NASDAQ:PACHU) shares shot up 0.2% during mid-day trading on Friday . The company traded as high as $10.21 and last traded at $10.21. 101 shares were traded during trading, a decline of 93% from the average session volume of 1,500 shares. The stock had previously closed at $10.19.

Pioneer Acquisition I Price Performance

The firm’s 50-day simple moving average is $10.20 and its 200-day simple moving average is $10.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PenderFund Capital Management Ltd. lifted its holdings in Pioneer Acquisition I by 248.0% during the third quarter. PenderFund Capital Management Ltd. now owns 17,400 shares of the company’s stock worth $175,000 after buying an additional 12,400 shares during the period. Parallax Volatility Advisers L.P. boosted its stake in Pioneer Acquisition I by 67.8% in the 3rd quarter. Parallax Volatility Advisers L.P. now owns 58,744 shares of the company’s stock worth $590,000 after purchasing an additional 23,744 shares in the last quarter. Meteora Capital LLC purchased a new stake in shares of Pioneer Acquisition I during the second quarter valued at $300,000. Crossingbridge Advisors LLC purchased a new stake in Pioneer Acquisition I during the 2nd quarter valued at about $488,000. Finally, Timelo Investment Management Inc. acquired a new stake in shares of Pioneer Acquisition I during the second quarter worth about $600,000.

Pioneer Acquisition I Company Profile

Pioneer Acquisition I Co is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands in 2023. As a blank check company, it has no commercial operations of its own and was formed solely to raise capital for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

In its initial public offering, Pioneer Acquisition I sold 20 million units at a price of $10.00 per unit.