Finnovate Acquisition Corp. (NASDAQ:FNVT) Short Interest Update

Finnovate Acquisition Corp. (NASDAQ:FNVT) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 400 shares, an increase of 33.3% from the March 15th total of 300 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 27,600 shares, the days-to-cover ratio is presently 0.0 days.

Finnovate Acquisition Price Performance

Shares of NASDAQ FNVT opened at $11.27 on Monday. The firm’s 50-day moving average price is $11.21 and its 200-day moving average price is $11.08. Finnovate Acquisition has a 52-week low of $10.43 and a 52-week high of $11.50.

Hedge Funds Weigh In On Finnovate Acquisition

Institutional investors and hedge funds have recently made changes to their positions in the business. Spartan Fund Management Inc. purchased a new position in shares of Finnovate Acquisition in the third quarter worth approximately $106,000. Centiva Capital LP purchased a new position in Finnovate Acquisition during the second quarter valued at approximately $136,000. Schonfeld Strategic Advisors LLC lifted its holdings in Finnovate Acquisition by 84.3% during the first quarter. Schonfeld Strategic Advisors LLC now owns 21,857 shares of the company’s stock valued at $228,000 after purchasing an additional 10,000 shares in the last quarter. Walleye Trading LLC purchased a new position in Finnovate Acquisition during the second quarter valued at approximately $267,000. Finally, Royal Bank of Canada lifted its holdings in Finnovate Acquisition by 8.7% during the first quarter. Royal Bank of Canada now owns 47,337 shares of the company’s stock valued at $469,000 after purchasing an additional 3,800 shares in the last quarter. Hedge funds and other institutional investors own 45.92% of the company’s stock.

Finnovate Acquisition Company Profile

Finnovate Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to focus on the acquisition of Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service, banking as a service, cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.