Cartica Acquisition Corp (NASDAQ:CITE) Sees Significant Decline in Short Interest

Cartica Acquisition Corp (NASDAQ:CITE) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 2,500 shares, a drop of 47.9% from the February 29th total of 4,800 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 16,500 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CITE. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Cartica Acquisition during the 1st quarter valued at $106,000. State Street Corp purchased a new position in shares of Cartica Acquisition during the 2nd quarter valued at approximately $133,000. Boothbay Fund Management LLC acquired a new position in Cartica Acquisition in the first quarter worth $165,000. Citadel Advisors LLC acquired a new position in shares of Cartica Acquisition during the second quarter valued at $187,000. Finally, Sea Otter Advisors LLC acquired a new position in shares of Cartica Acquisition during the first quarter valued at $187,000. 42.21% of the stock is owned by hedge funds and other institutional investors.

Cartica Acquisition Price Performance

Shares of CITE stock traded down $0.01 during midday trading on Thursday, reaching $11.09. 3,507 shares of the company traded hands, compared to its average volume of 31,023. The firm’s 50 day simple moving average is $11.02 and its two-hundred day simple moving average is $10.90. Cartica Acquisition has a 1-year low of $10.34 and a 1-year high of $12.67.

Cartica Acquisition Company Profile

Cartica Acquisition Corp does not have any 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 identify and complete a business combination in the technology sector in India.