New Providence Acquisition Corp. II (NASDAQ:NPAB) Stock Price Down 4.8%

New Providence Acquisition Corp. II (NASDAQ:NPAB)’s stock price fell 4.8% during trading on Wednesday . The stock traded as low as $12.00 and last traded at $12.00. 612 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 17,182 shares. The stock had previously closed at $12.60.

New Providence Acquisition Corp. II Price Performance

The company’s 50 day moving average is $12.62 and its 200 day moving average is $11.61.

Hedge Funds Weigh In On New Providence Acquisition Corp. II

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Robinson Capital Management LLC raised its stake in shares of New Providence Acquisition Corp. II by 3,546.3% during the first quarter. Robinson Capital Management LLC now owns 20,930 shares of the company’s stock valued at $227,000 after acquiring an additional 20,356 shares during the last quarter. Karpus Management Inc. bought a new position in shares of New Providence Acquisition Corp. II during the first quarter valued at $283,000. Mizuho Securities USA LLC bought a new position in shares of New Providence Acquisition Corp. II during the first quarter valued at $659,000. K2 Principal Fund L.P. bought a new position in shares of New Providence Acquisition Corp. II during the first quarter valued at $1,077,000. Finally, Berkley W R Corp bought a new position in shares of New Providence Acquisition Corp. II during the first quarter valued at $2,233,000.

About New Providence Acquisition Corp. II

New Providence Acquisition Corp. II does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses in the consumer industry. The company was incorporated in 2020 and is based in Austin, Texas.