Burgundy Technology Acquisition Co. (NASDAQ:BTAQ) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 230,400 shares, a decline of 21.8% from the August 15th total of 294,700 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average trading volume of 106,700 shares, the days-to-cover ratio is currently 2.2 days.
Large investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Burgundy Technology Acquisition by 902.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 154,407 shares of the company’s stock worth $1,527,000 after buying an additional 139,007 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Burgundy Technology Acquisition during the 1st quarter worth approximately $1,079,000. Ion Asset Management Ltd. purchased a new stake in shares of Burgundy Technology Acquisition during the 1st quarter worth approximately $3,155,000. Cowen Investment Management LLC purchased a new stake in shares of Burgundy Technology Acquisition during the 1st quarter worth approximately $495,000. Finally, Basso Capital Management L.P. lifted its position in shares of Burgundy Technology Acquisition by 22.3% during the 1st quarter. Basso Capital Management L.P. now owns 333,736 shares of the company’s stock worth $3,301,000 after buying an additional 60,811 shares during the last quarter. Institutional investors and hedge funds own 57.19% of the company’s stock.
Burgundy Technology Acquisition stock traded up $0.02 during trading on Wednesday, reaching $9.95. The stock had a trading volume of 94,617 shares, compared to its average volume of 569,157. Burgundy Technology Acquisition has a 52-week low of $9.64 and a 52-week high of $11.90. The business has a 50 day moving average price of $9.89 and a 200 day moving average price of $9.92.
Burgundy Technology Acquisition Corporation does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It focuses on public and private opportunities in the technology sector, primarily companies in enterprise software or technology-enabled services.
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