EGH Acquisition Corp. (NASDAQ:EGHA) Sees Large Increase in Short Interest

EGH Acquisition Corp. (NASDAQ:EGHAGet Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 14,966 shares, an increase of 1,375.9% from the April 30th total of 1,014 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 48,248 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On EGH Acquisition

Institutional investors have recently bought and sold shares of the stock. ABC Arbitrage SA bought a new stake in EGH Acquisition during the fourth quarter worth $304,000. DLD Asset Management LP bought a new stake in EGH Acquisition during the first quarter worth $347,000. Lineage Point Capital LP bought a new stake in EGH Acquisition during the fourth quarter worth $465,000. Toronto Dominion Bank grew its holdings in EGH Acquisition by 252.2% during the fourth quarter. Toronto Dominion Bank now owns 177,958 shares of the company’s stock worth $1,803,000 after buying an additional 127,436 shares in the last quarter. Finally, TIG Advisors LLC bought a new stake in EGH Acquisition during the fourth quarter worth $2,052,000.

EGH Acquisition Stock Down 0.1%

Shares of EGH Acquisition stock opened at $10.34 on Thursday. The stock’s fifty day moving average is $10.26. EGH Acquisition has a 12-month low of $9.31 and a 12-month high of $10.80.

EGH Acquisition Company Profile

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EGH Acquisition (NASDAQ: EGHA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and combine with one or more businesses. As a blank‑check vehicle, the company’s primary business activity is to raise capital through an initial public offering and to seek qualifying target companies for a business combination that would result in the target becoming a publicly listed entity.

Like other SPACs, EGH Acquisition typically holds the proceeds of its offering in trust while it evaluates potential targets and transaction structures.

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