Short Interest in New Providence Acquisition Corp. II (NASDAQ:NPAB) Increases By 340.0%

New Providence Acquisition Corp. II (NASDAQ:NPABGet Free Report) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 2,200 shares, an increase of 340.0% from the May 15th total of 500 shares. Based on an average daily trading volume, of 5,300 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the shares of the company are short sold.

New Providence Acquisition Corp. II Stock Up 3.8 %

NPAB stock traded up $0.49 during midday trading on Wednesday, reaching $13.49. 1,862 shares of the company’s stock traded hands, compared to its average volume of 24,145. New Providence Acquisition Corp. II has a 52-week low of $10.48 and a 52-week high of $13.95. The stock’s 50-day moving average is $11.30 and its 200 day moving average is $10.92.

Institutional Trading of New Providence Acquisition Corp. II

Hedge funds and other institutional investors have recently modified their holdings of the company. Robinson Capital Management LLC increased its stake in shares of New Providence Acquisition Corp. II by 3,546.3% in the first quarter. Robinson Capital Management LLC now owns 20,930 shares of the company’s stock worth $227,000 after purchasing an additional 20,356 shares in the last quarter. Karpus Management Inc. purchased a new stake in shares of New Providence Acquisition Corp. II in the first quarter worth $283,000. Mizuho Securities USA LLC purchased a new stake in shares of New Providence Acquisition Corp. II in the first quarter worth $659,000. K2 Principal Fund L.P. purchased a new stake in shares of New Providence Acquisition Corp. II in the first quarter worth $1,077,000. Finally, Berkley W R Corp purchased a new stake in shares of New Providence Acquisition Corp. II in the first quarter worth $2,233,000.

About New Providence Acquisition Corp. II

(Get Free Report)

New Providence Acquisition Corp. II does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses in the consumer industry. The company was incorporated in 2020 and is based in Austin, Texas.

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