OTGAU (NASDAQ:OTGAU) Stock Short Interest Report for October

OTGAU (NASDAQ:OTGAU) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 214 shares. Based on an average daily trading volume, of 727 shares, the days-to-cover ratio is currently 0.3 days.

OTGAU Stock Performance

OTGAU stock opened at $10.36 on Monday. OTGAU has a 1-year low of $10.09 and a 1-year high of $10.44. The business’s 50 day moving average is $10.38 and its 200-day moving average is $10.30.

Hedge Funds Weigh In On OTGAU

Several institutional investors have recently modified their holdings of OTGAU. Lineage Point Capital LP bought a new stake in shares of OTGAU in the second quarter worth about $4,644,000. Rangeley Capital LLC raised its holdings in shares of OTGAU by 84.6% in the first quarter. Rangeley Capital LLC now owns 50,805 shares of the company’s stock valued at $520,000 after purchasing an additional 23,285 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of OTGAU in the second quarter worth $117,000. Finally, OMERS ADMINISTRATION Corp bought a new position in OTGAU in the first quarter valued at $106,000.

About OTGAU

OTG Acquisition Corp. is a special purpose acquisition company (SPAC) organized to identify and complete a business combination with one or more operating businesses. Its publicly traded units are listed on the Nasdaq under the symbol OTGAU.

Unlike an operating company, OTG Acquisition Corp. does not manufacture products or provide services to customers. Its activities primarily involve evaluating potential merger, acquisition, or similar transactions and seeking shareholder approval for a proposed combination.

Until a transaction is completed, the company’s operations are generally limited to organizational activities, regulatory filings, investor communications, and the management of funds held for the purpose of completing a business combination.