The number of short positions in Fintech Evolution Acquisition Group (NYSE: FTEV) significantly declined during December. There were 26,900 shares borrowed as of the 15th of December, but as of the 30th of December, there were only 9,400 shares borrowed, a decrease of 65.1% from the number of borrowed shares. The current short-interest ratio is 0.1 days, based on an average daily volume of 76,100 shares. This number was arrived at using the data. There is not even a single share of the company’s stock that is being sold short at this very moment.
Recent months have seen several hedge funds implement new procedures for their FTEV. During the first quarter, Bank of America Corp. (D.E.) achieved an increase of 53,571.4% in the percentage of its holdings comprised of FinTech Evolution Acquisition Group. Bank of America Corp. (D.E.) now holds a total of 751,400 shares following the acquisition of an additional 750,000 in the most recent period. Each share of the company’s stock is currently valued at $7,364,000. During the third quarter, Glazer Capital LLC’s ownership stake in FinTech Evolution Acquisition Group increased by 40.4%, bringing the total percentage of shares held by the company to 100%. After purchasing an additional 734,578 shares during the most recent quarter, Glazer Capital LLC now directly owns 2,552,026 shares of the company’s stock, which has a value of $25,316,000. This brings the total number of shares directly owned by the company to 2,552,026. Verition Fund Management LLC made a new investment in FinTech Evolution Acquisition Group during the third quarter of 2018. It was estimated that this new position was worth approximately 2,543,000 dollars. The amount of ownership in Fintech Evolution Acquisition Group that Basso Capital Management L.P. held increased by 2,042% during the first three months of the year. The 91,785 shares of the company that Basso Capital Management L.P. owns have a value of $899,000 in the market. This is the result of purchasing an additional 87,500 shares during the most recent fiscal quarter to bring the total number of shares owned by the company to 188,500. During the second quarter, Karpus Management Inc. increased the percentage of ownership it held in FinTech Evolution Acquisition Group to 90.2%, bringing the total number of shares it possessed to 90.2. After purchasing an additional 45,169 shares during the most recent fiscal quarter that the company has been in operation, Karpus Management Inc. now has a total of 95,269 shares. The current value of these shares is $934,000. Institutional investors and hedge funds are the owners of a combined total of 65.81% of the company’s stock.
On Wednesday morning, the price of an individual share of FTEV opened for trading at $10.14. The moving average for the company over the previous 50 days is $10.06, but the moving average over the previous 200 days is only $9.95. Over the past year, the price of FinTech Evolution Acquisition Group shares fluctuated between a 52-week low of $9.64 and a 52-week high of $10.15.
The FinTech Evolution Acquisition Group does not hire many staff members. The company’s primary goal is to participate in some kind of corporate combination with one or more other businesses, such as a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar corporate combination. This could be a merger, share exchange, asset acquisition, purchase, or reorganization. In addition to focusing on businesses that provide more general technology software, services, or products, the company intends to concentrate on businesses that provide financial technology and technology-enabled services to the financial services sector.