OTGAU (NASDAQ:OTGAU) Sees Significant Increase in Short Interest

OTGAU (NASDAQ:OTGAU) was the target of a significant increase in short interest in October. As of October 30th, there was short interest totaling 699 shares, an increase of 226.6% from the October 15th total of 214 shares. Based on an average trading volume of 507 shares, the days-to-cover ratio is currently 1.4 days.

OTGAU Stock Performance

Shares of OTGAU stock remained flat at $10.37 during trading hours on Thursday. The stock had a trading volume of 5,161 shares, compared to its average volume of 8,562. OTGAU has a 1-year low of $10.09 and a 1-year high of $10.44. The firm has a 50-day moving average price of $10.37 and a two-hundred day moving average price of $10.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lineage Point Capital LP purchased a new position in OTGAU in the 2nd quarter worth $4,644,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of OTGAU during the first quarter worth approximately $106,000. Rangeley Capital LLC lifted its stake in shares of OTGAU by 84.6% in the first quarter. Rangeley Capital LLC now owns 50,805 shares of the company’s stock worth $520,000 after buying an additional 23,285 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of OTGAU during the 2nd quarter worth approximately $117,000.

About OTGAU

OTG Acquisition Corp. is a special purpose acquisition company, or blank-check company. It was formed to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more businesses. Unlike an operating company, OTG Acquisition Corp. does not provide products or services to customers. Its principal activity is identifying and evaluating a potential business-combination target. Until it completes a transaction, the company’s operations and geographic reach depend on any future target it selects.