Short Interest in Founder SPAC (NASDAQ:FOUNU) Drops By 62.9%

Founder SPAC (NASDAQ:FOUNUGet Rating) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totalling 1,300 shares, a drop of 62.9% from the April 30th total of 3,500 shares. Based on an average trading volume of 6,100 shares, the short-interest ratio is presently 0.2 days.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank bought a new stake in shares of Founder SPAC in the 4th quarter worth approximately $103,000. Walleye Capital LLC bought a new stake in shares of Founder SPAC in the 1st quarter worth approximately $149,000. Cubist Systematic Strategies LLC bought a new stake in shares of Founder SPAC in the 4th quarter worth approximately $546,000. CSS LLC IL bought a new stake in shares of Founder SPAC in the 4th quarter worth approximately $870,000. Finally, Citadel Advisors LLC bought a new stake in shares of Founder SPAC in the 4th quarter worth approximately $2,732,000.

Shares of Founder SPAC stock traded down $0.01 during trading on Friday, hitting $10.20. 250 shares of the stock traded hands, compared to its average volume of 9,672. The firm’s fifty day moving average is $10.22 and its 200-day moving average is $10.22. Founder SPAC has a 52 week low of $10.00 and a 52 week high of $10.42.

About Founder SPAC (Get Rating)

Founder SPAC does not have significant operations. The company focuses on effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Founder SPAC was incorporated in 2021 and is based in Potomac, Maryland.

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