Finnovate Acquisition Corp. (NASDAQ:FNVT) Short Interest Up 100.0% in July

Finnovate Acquisition Corp. (NASDAQ:FNVT) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 200 shares, a growth of 100.0% from the July 15th total of 100 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 5,300 shares, the days-to-cover ratio is currently 0.0 days.

Finnovate Acquisition Stock Performance

Shares of NASDAQ FNVT remained flat at $11.44 during midday trading on Tuesday. 5,481 shares of the stock were exchanged, compared to its average volume of 44,254. Finnovate Acquisition has a 52 week low of $10.72 and a 52 week high of $11.50. The stock’s fifty day moving average price is $11.40 and its 200 day moving average price is $11.30.

Hedge Funds Weigh In On Finnovate Acquisition

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNVT. Cowen AND Company LLC acquired a new position in shares of Finnovate Acquisition in the 4th quarter valued at approximately $1,256,000. Quarry LP bought a new stake in Finnovate Acquisition during the fourth quarter worth $1,344,000. Berkley W R Corp boosted its holdings in shares of Finnovate Acquisition by 79.5% in the 4th quarter. Berkley W R Corp now owns 408,124 shares of the company’s stock valued at $4,518,000 after purchasing an additional 180,794 shares in the last quarter. Mizuho Securities USA LLC increased its stake in shares of Finnovate Acquisition by 1.5% in the 4th quarter. Mizuho Securities USA LLC now owns 640,627 shares of the company’s stock valued at $7,047,000 after purchasing an additional 9,347 shares during the last quarter. Finally, Clear Street LLC acquired a new position in shares of Finnovate Acquisition during the 2nd quarter worth $50,000. 45.92% of the stock is owned by institutional investors and hedge funds.

About Finnovate Acquisition

Finnovate Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to focus on the acquisition of Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service, banking as a service, cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.