Berto Acquisition Corp. (NASDAQ:TACOU – Get Free Report) was the recipient of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 1,562 shares, a decrease of 54.6% from the May 14th total of 3,441 shares. Based on an average daily volume of 5,438 shares, the days-to-cover ratio is presently 0.3 days.
Berto Acquisition Stock Performance
TACOU traded down $0.25 on Friday, reaching $10.75. The company’s stock had a trading volume of 400 shares, compared to its average volume of 5,230. The stock has a 50 day moving average of $10.66 and a two-hundred day moving average of $10.45. Berto Acquisition has a fifty-two week low of $10.21 and a fifty-two week high of $12.50.
Hedge Funds Weigh In On Berto Acquisition
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clear Street Group Inc. boosted its holdings in Berto Acquisition by 421.5% in the fourth quarter. Clear Street Group Inc. now owns 163,403 shares of the company’s stock valued at $1,681,000 after purchasing an additional 132,072 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Berto Acquisition in the second quarter valued at approximately $1,077,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Berto Acquisition in the first quarter valued at approximately $597,000.
About Berto Acquisition
Berto Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. The company has no commercial operations to date and was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
The company completed its initial public offering in early 2022, raising gross proceeds through the sale of units each consisting of one share of common stock and a fraction of a warrant.
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