PowerUp Acquisition (NASDAQ:PWUP) Shares Down 4.4% – Should You Sell?

PowerUp Acquisition Corp. (NASDAQ:PWUP)’s stock price dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $0.56 and last traded at $0.61. Approximately 193,257 shares traded hands during mid-day 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 firm’s 50-day moving average is $7.54 and its 200-day moving average is $10.18.

Institutional Trading of PowerUp Acquisition

A hedge fund recently bought a new stake in PowerUp Acquisition stock. Harraden Circle Investments LLC purchased a new stake in shares of PowerUp Acquisition Corp. (NASDAQ:PWUP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 449,783 shares of the company’s stock, valued at approximately $5,173,000. PowerUp Acquisition accounts for 4.7% of Harraden Circle Investments LLC’s holdings, making the stock its 8th largest position. Harraden Circle Investments LLC owned about 5.79% of PowerUp Acquisition at the end of the most recent reporting period. Hedge funds and other institutional investors own 19.17% of the company’s stock.

About PowerUp Acquisition

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.