OTGAU (NASDAQ:OTGAU) Stock Short Interest Jumps 226.6%

OTGAU (NASDAQ:OTGAU) was the recipient of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 699 shares, a growth of 226.6% from the October 15th total of 214 shares. Based on an average trading volume of 507 shares, the short-interest ratio is currently 1.4 days.

OTGAU Price Performance

OTGAU stock remained flat at $10.37 during midday trading on Friday. The company’s stock had a trading volume of 5,161 shares, compared to its average volume of 8,562. OTGAU has a one year low of $10.09 and a one year high of $10.44. The company’s fifty day simple moving average is $10.37 and its 200-day simple moving average is $10.30.

Hedge Funds Weigh In On OTGAU

Several hedge funds have recently added to or reduced their stakes in OTGAU. Lineage Point Capital LP purchased a new stake in shares of OTGAU in the second quarter valued at about $4,644,000. Citadel Advisors LLC purchased a new position in shares of OTGAU during the 2nd quarter worth approximately $117,000. OMERS ADMINISTRATION Corp acquired a new position in shares of OTGAU during the 1st quarter worth approximately $106,000. Finally, Rangeley Capital LLC raised its position in shares of OTGAU by 84.6% during the 1st quarter. Rangeley Capital LLC now owns 50,805 shares of the company’s stock worth $520,000 after purchasing an additional 23,285 shares during the last quarter.

About OTGAU

OTG Acquisition Corp. is a special purpose acquisition company, or blank-check company. It was formed to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. Unlike an operating company, OTG Acquisition Corp. does not provide products or services to customers. Its principal activity is identifying and evaluating a potential business-combination target. Until it completes a transaction, the company’s operations and geographic reach depend on any future target it selects.