PowerUp Acquisition (NASDAQ:PWUP) Shares Down 3.4% – What’s Next?

PowerUp Acquisition Corp. (NASDAQ:PWUP) dropped 3.4% on Wednesday . The company traded as low as $0.27 and last traded at $0.27. Approximately 683,360 shares traded hands during mid-day trading, an increase of 21,355% from the average daily volume of 3,185 shares. The stock had previously closed at $0.28.

PowerUp Acquisition Price Performance

The stock’s fifty day simple moving average is $0.38 and its two-hundred day simple moving average is $4.64.

Institutional Trading of PowerUp Acquisition

A hedge fund recently bought a new stake in PowerUp Acquisition stock. Harraden Circle Investments LLC purchased a new position in PowerUp Acquisition Corp. (NASDAQ:PWUP) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 449,783 shares of the company’s stock, valued at approximately $5,173,000. PowerUp Acquisition makes up 4.7% of Harraden Circle Investments LLC’s investment portfolio, making the stock its 8th biggest position. Harraden Circle Investments LLC owned approximately 5.79% of PowerUp Acquisition as of its most recent filing with the SEC. Institutional investors own 19.17% of the company’s stock.

PowerUp Acquisition Company Profile

PowerUp Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on video gaming, gaming adjacent, and metaverse businesses.