Burtech Acquisition Corp. (NASDAQ:BRKH) Sees Large Decline in Short Interest

Burtech Acquisition Corp. (NASDAQ:BRKH) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 4,800 shares, a decrease of 9.4% from the August 31st total of 5,300 shares. Based on an average daily trading volume, of 20,400 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are short sold.

Burtech Acquisition Price Performance

Burtech Acquisition stock remained flat at $11.28 during midday trading on Tuesday. The company’s stock had a trading volume of 782 shares, compared to its average volume of 13,320. Burtech Acquisition has a one year low of $10.53 and a one year high of $11.31. The stock’s fifty day moving average is $11.23 and its 200-day moving average is $11.14.

Hedge Funds Weigh In On Burtech Acquisition

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Berkley W R Corp increased its holdings in shares of Burtech Acquisition by 110.1% in the 4th quarter. Berkley W R Corp now owns 522,205 shares of the company’s stock valued at $5,603,000 after acquiring an additional 273,630 shares during the period. K2 Principal Fund L.P. purchased a new position in Burtech Acquisition in the fourth quarter worth $2,709,000. Finally, Clear Street LLC increased its holdings in shares of Burtech Acquisition by 141.8% in the 2nd quarter. Clear Street LLC now owns 3,206 shares of the company’s stock valued at $36,000 after purchasing an additional 1,880 shares in the last quarter. 97.12% of the stock is owned by institutional investors and hedge funds.

Burtech Acquisition Company Profile

Burtech Acquisition Corp. does not have significant operations. The company focuses to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire a business, which operates in the retail, lifestyle, hospitality, technology, and real estate markets.