A SPAC III Acquisition (NASDAQ:ASPCU) Stock Price Up 3.2% – Here’s Why

Shares of A SPAC III Acquisition Corp. (NASDAQ:ASPCU) rose 3.2% during mid-day trading on Thursday . The company traded as high as $12.80 and last traded at $12.80. Approximately 2,342 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 5,356 shares. The stock had previously closed at $12.40.

A SPAC III Acquisition Trading Up 3.2%

The firm’s 50-day moving average price is $15.73 and its 200 day moving average price is $12.51.

Institutional Investors Weigh In On A SPAC III Acquisition

A number of hedge funds have recently made changes to their positions in ASPCU. Susquehanna International Group LLP acquired a new position in shares of A SPAC III Acquisition during the third quarter worth approximately $77,000. Clear Street LLC boosted its position in A SPAC III Acquisition by 960.5% during the 2nd quarter. Clear Street LLC now owns 46,399 shares of the company’s stock worth $331,000 after acquiring an additional 42,024 shares during the period. Finally, Clear Street Group Inc. bought a new position in shares of A SPAC III Acquisition in the third quarter worth $517,000.

About A SPAC III Acquisition

A SPAC III Acquisition Corp. (NASDAQ: ASPCU) is a special purpose acquisition company incorporated in Delaware. The firm is structured as a blank check entity formed solely to effect a merger, business combination or other acquisition of one or more operating businesses.

Following its initial public offering, A SPAC III placed proceeds in a trust account and focuses on identifying and evaluating potential targets. The company maintains broad sector flexibility, with an emphasis on growth-oriented industries such as technology, healthcare and industrial services across North America and Europe.

As of now, A SPAC III Acquisition has not announced any definitive business combination agreements.