Plum Acquisition Corp. IV (NASDAQ:PLMK) Short Interest Down 69.5% in June

Plum Acquisition Corp. IV (NASDAQ:PLMK) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 3,301 shares, a drop of 69.5% from the May 31st total of 10,810 shares. Based on an average daily volume of 31,668 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Institutional Trading of Plum Acquisition Corp. IV

Several institutional investors and hedge funds have recently made changes to their positions in the company. Radcliffe Capital Management L.P. grew its holdings in Plum Acquisition Corp. IV by 36.6% during the 3rd quarter. Radcliffe Capital Management L.P. now owns 425,330 shares of the company’s stock worth $4,389,000 after acquiring an additional 113,975 shares in the last quarter. Governors Lane LP raised its holdings in shares of Plum Acquisition Corp. IV by 133.3% in the 4th quarter. Governors Lane LP now owns 700,000 shares of the company’s stock valued at $7,315,000 after purchasing an additional 399,900 shares in the last quarter. Berkley W R Corp lifted its position in shares of Plum Acquisition Corp. IV by 4.6% in the 1st quarter. Berkley W R Corp now owns 804,192 shares of the company’s stock worth $8,492,000 after purchasing an additional 35,304 shares during the period. Crossingbridge Advisors LLC bought a new position in shares of Plum Acquisition Corp. IV during the fourth quarter valued at approximately $262,000. Finally, Virtu Financial LLC purchased a new position in Plum Acquisition Corp. IV during the fourth quarter valued at approximately $352,000.

Plum Acquisition Corp. IV Stock Up 0.3%

Shares of NASDAQ PLMK traded up $0.03 during trading hours on Friday, reaching $10.66. The stock had a trading volume of 211,470 shares, compared to its average volume of 143,848. Plum Acquisition Corp. IV has a 52-week low of $10.25 and a 52-week high of $10.84. The business’s fifty day moving average price is $10.62 and its two-hundred day moving average price is $10.54.

Plum Acquisition Corp. IV (NASDAQ:PLMK) last released its quarterly earnings data on Friday, May 15th. The company reported $0.05 EPS for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Plum Acquisition Corp. IV in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Plum Acquisition Corp. IV Company Profile

Plum Acquisition Corp. IV is a special purpose acquisition company incorporated in the Cayman Islands. Trading on the Nasdaq under the ticker PLMK, the company has no operating history and was formed for the purpose of effecting one or more business combinations, such as a merger, capital stock exchange, asset acquisition or similar transaction.

The company completed its initial public offering, raising capital through the sale of units comprised of ordinary shares and warrants. The net proceeds of the offering are held in a trust account, pending the identification and consummation of a suitable business combination within the prescribed timeframe, generally 24 months from the closing date of the offering.

Although Plum Acquisition Corp.