Bannix Acquisition Corp. (NASDAQ:BNIX) Short Interest Up 516.7% in May

Bannix Acquisition Corp. (NASDAQ:BNIXGet Rating) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 3,700 shares, an increase of 516.7% from the April 30th total of 600 shares. Based on an average daily volume of 2,600 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.1% of the company’s stock are short sold.

Shares of NASDAQ:BNIX opened at $9.94 on Friday. The business has a 50-day simple moving average of $9.92 and a two-hundred day simple moving average of $9.87. Bannix Acquisition has a fifty-two week low of $9.77 and a fifty-two week high of $10.08.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Bannix Acquisition in the fourth quarter valued at about $645,000. Wolverine Asset Management LLC purchased a new position in shares of Bannix Acquisition in the fourth quarter worth approximately $2,873,000. Context Capital Management LLC bought a new stake in Bannix Acquisition during the fourth quarter valued at approximately $3,600,000. Yakira Capital Management Inc. purchased a new stake in Bannix Acquisition during the fourth quarter valued at approximately $2,943,000. Finally, Mint Tower Capital Management B.V. bought a new position in Bannix Acquisition in the fourth quarter worth approximately $981,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

About Bannix Acquisition (Get Rating)

Bannix Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or related business combination with one or more businesses in the B2B enterprise software, telecom, financial, and retail industries.

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