GSR IV Acquisition Corp. (NASDAQ:GSRFR – Get Free Report) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 95 shares, a drop of 81.0% from the May 14th total of 500 shares. Based on an average daily volume of 12,535 shares, the short-interest ratio is currently 0.0 days.
GSR IV Acquisition Stock Down 7.1%
NASDAQ:GSRFR traded down $0.18 during trading hours on Wednesday, reaching $2.36. The company’s stock had a trading volume of 1,717 shares, compared to its average volume of 10,439. GSR IV Acquisition has a 12 month low of $1.76 and a 12 month high of $3.98. The firm has a 50 day simple moving average of $2.35.
Hedge Funds Weigh In On GSR IV Acquisition
A number of large investors have recently bought and sold shares of the business. Harraden Circle Investments LLC bought a new position in GSR IV Acquisition in the fourth quarter worth approximately $1,006,000. Meteora Capital LLC purchased a new stake in GSR IV Acquisition in the fourth quarter valued at $727,000. Polar Asset Management Partners Inc. purchased a new stake in GSR IV Acquisition in the fourth quarter valued at $408,000. AQR Arbitrage LLC purchased a new stake in GSR IV Acquisition in the fourth quarter valued at $315,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of GSR IV Acquisition in the 4th quarter valued at $303,000.
About GSR IV Acquisition
GSR IV Acquisition (NASDAQ: GSRFR) is a special purpose acquisition company (SPAC). As a blank‑check vehicle, its principal purpose is to raise capital in the public markets and use those funds to effect a merger, share exchange, asset acquisition, reorganization or similar business combination with one or more operating businesses. Like other SPACs, it does not operate a commercial business of its own prior to completing a business combination.
The company’s activities typically include conducting an initial public offering to generate trust‑account capital, evaluating potential target companies, negotiating transaction terms, and completing a qualifying business combination that results in an ongoing public company.
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