Lake Superior Acquisition Corp (NASDAQ:LKSPU – Get Free Report) saw a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 103 shares, a drop of 85.2% from the April 30th total of 695 shares. Based on an average daily volume of 117 shares, the days-to-cover ratio is currently 0.9 days.
Lake Superior Acquisition Stock Performance
Shares of LKSPU traded up $0.13 during mid-day trading on Friday, reaching $10.32. The company’s 50 day simple moving average is $10.27 and its 200 day simple moving average is $10.21. Lake Superior Acquisition has a twelve month low of $10.00 and a twelve month high of $10.36.
Hedge Funds Weigh In On Lake Superior Acquisition
A number of hedge funds have recently made changes to their positions in LKSPU. Quarry LP acquired a new position in shares of Lake Superior Acquisition in the 4th quarter valued at $331,000. Westchester Capital Management LLC acquired a new position in shares of Lake Superior Acquisition in the 4th quarter valued at $2,581,000. Clear Street Group Inc. acquired a new position in shares of Lake Superior Acquisition in the 4th quarter valued at $797,000. Magnetar Financial LLC acquired a new position in shares of Lake Superior Acquisition in the 4th quarter valued at $5,039,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Lake Superior Acquisition in the 4th quarter valued at $110,000.
About Lake Superior Acquisition
We are a blank check company, incorporated as a British Virgin Islands business company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.
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