PowerUp Acquisition (NASDAQ:PWUP) Trading Down 4.4% – Here’s What Happened

PowerUp Acquisition Corp. (NASDAQ:PWUP)’s share price was down 4.4% on Wednesday . The company traded as low as $0.56 and last traded at $0.61. Approximately 193,257 shares traded hands during trading, an increase of 1,700% from the average daily volume of 10,736 shares. The stock had previously closed at $0.64.

PowerUp Acquisition Price Performance

The company has a 50-day moving average price of $7.33 and a two-hundred day moving average price of $10.11.

Institutional Investors Weigh In On PowerUp Acquisition

An institutional investor recently bought a new position in PowerUp Acquisition stock. Harraden Circle Investments LLC acquired a new position in shares of PowerUp Acquisition Corp. (NASDAQ:PWUP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 449,783 shares of the company’s stock, valued at approximately $5,173,000. PowerUp Acquisition accounts for about 4.7% of Harraden Circle Investments LLC’s holdings, making the stock its 8th biggest position. Harraden Circle Investments LLC owned about 5.79% of PowerUp Acquisition as of its most recent filing with the Securities and Exchange Commission. 19.17% of the stock is owned by institutional investors and hedge funds.

PowerUp Acquisition Company Profile

PowerUp Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on video gaming, gaming adjacent, and metaverse businesses.