Newbury Street Acquisition Co. (NASDAQ:NBST) Sees Significant Drop in Short Interest

Newbury Street Acquisition Co. (NASDAQ:NBST) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totalling 600 shares, a decline of 25.0% from the May 31st total of 800 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 4,300 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Newbury Street Acquisition

A number of hedge funds have recently modified their holdings of the business. Hudson Bay Capital Management LP lifted its position in Newbury Street Acquisition by 127.0% during the third quarter. Hudson Bay Capital Management LP now owns 446,802 shares of the company’s stock worth $4,651,000 after buying an additional 250,000 shares in the last quarter. TrueMark Investments LLC acquired a new position in shares of Newbury Street Acquisition during the 4th quarter valued at about $223,000. Berkley W R Corp purchased a new stake in shares of Newbury Street Acquisition in the fourth quarter valued at about $2,640,000. Finally, Virtu Financial LLC acquired a new stake in Newbury Street Acquisition during the fourth quarter worth about $659,000. 35.91% of the stock is currently owned by institutional investors and hedge funds.

Newbury Street Acquisition Stock Performance

NASDAQ NBST remained flat at $10.93 during mid-day trading on Friday. The company had a trading volume of 105 shares, compared to its average volume of 1,257. Newbury Street Acquisition has a 1 year low of $10.35 and a 1 year high of $11.83. The stock’s fifty day moving average is $10.86 and its 200 day moving average is $10.81.

Newbury Street Acquisition Company Profile

Newbury Street Acquisition Corporation does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on technology business in the consumer internet or media space, including sports and entertainment verticals.