Highbridge Capital Management LLC recently announced the acquisition of new stake in ShoulderUp Technology Acquisition Corp. (NYSE:SUAC). The institutional investor has increased its shareholding in the Financial company by 166.56% to 2.06 million shares with purchase of 1.29 million shares. This fresh investment now brings its stake to 6.58% valued currently at $21.05 million. In addition, Calamos Advisors LLC raised its holdings by 2.0 million to 2.0 million shares. And Shaolin Capital Management LLC has lifted its position by 37.12% or 0.34 million shares – to 1.26 million shares.
With over 0.17 million ShoulderUp Technology Acquisition Corp. (SUAC) shares trading Friday and a closing price of $10.24 on the day, the dollar volume was approximately $1.69 million. The shares have shown a positive half year performance of 4.49% and its price on 01/20/23 lost nearly -0.19%. Currently, there are 41.80M common shares owned by the public and among those 31.35M shares have been available to trade.
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The top 3 mutual fund holders in ShoulderUp Technology Acquisition Corp. are Calamos Market Neutral Income Fun, First Trust Merger Arbitrage Fund, and AQR Diversified Arbitrage Fund. Calamos Market Neutral Income Fun owns 2.0 million shares of the company’s stock, all valued at over $20.42 million. The company bought an additional 2.0 million shares recently to bring their total holdings to about 6.38% of the shares outstanding. AQR Diversified Arbitrage Fund now owns shares totaling to 0.96% of the shares outstanding.
Shares of ShoulderUp Technology Acquisition Corp. (NYSE: SUAC) opened at $10.24, down -$0.02 from a prior closing price of $10.26. However, the script later moved the day high at 10.24, down -0.19%. The company’s stock has a 5-day price change of 0.20% and 3.02% over the past three months. It has a 12-month low price of $9.80 and touched a high of $10.26 over the same period. SUAC has an average intraday trading volume of 66.73K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.86%, 1.58%, and 2.74% respectively.
Institutional ownership of ShoulderUp Technology Acquisition Corp. (NYSE: SUAC) shares accounts for 91.60% of the company’s 41.80M shares outstanding. Mutual fund holders own 79.84%, while other institutional holders and individual stakeholders account for 9.28% and — respectively.
It has a market capitalization of $428.85M. The stock’s trailing 12-month PE ratio is 5120.00, while the earnings-per-share (ttm) stands at $0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.10% over the week and 0.11% over the month.
