PowerUp Acquisition (NASDAQ:PWUP) Trading Down 18% – Should You Sell?

PowerUp Acquisition Corp. (NASDAQ:PWUP)’s share price traded down 18% during mid-day trading on Tuesday . The company traded as low as $1.57 and last traded at $2.10. 1,077,716 shares were traded during mid-day trading, an increase of 16,810% from the average session volume of 6,373 shares. The stock had previously closed at $2.56.

PowerUp Acquisition Price Performance

The business’s fifty day moving average is $10.90 and its 200-day moving average is $11.33.

Institutional Investors Weigh In On PowerUp Acquisition

An institutional investor recently bought a new position in PowerUp Acquisition stock. Harraden Circle Investments LLC bought a new stake in PowerUp Acquisition Corp. (NASDAQ:PWUP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 449,783 shares of the company’s stock, valued at approximately $5,173,000. PowerUp Acquisition accounts for about 4.7% of Harraden Circle Investments LLC’s investment portfolio, making the stock its 8th biggest holding. Harraden Circle Investments LLC owned about 5.79% of PowerUp Acquisition as of its most recent filing with the Securities & Exchange Commission. 19.17% of the stock is owned by institutional investors and hedge funds.

PowerUp Acquisition Company Profile

PowerUp Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on video gaming, gaming adjacent, and metaverse businesses.