Eureka Acquisition (NASDAQ:EURKU) Trading Up 1.3% – Time to Buy?

Eureka Acquisition Corp (NASDAQ:EURKU) shares rose 1.3% on Friday . The stock traded as high as $10.89 and last traded at $10.89. Approximately 200 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 556 shares. The stock had previously closed at $10.75.

Eureka Acquisition Price Performance

The stock’s 50-day simple moving average is $10.91 and its 200 day simple moving average is $10.89.

Hedge Funds Weigh In On Eureka Acquisition

A hedge fund recently bought a new stake in Eureka Acquisition stock. Clear Street Group Inc. purchased a new stake in Eureka Acquisition Corp (NASDAQ:EURKU) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,281 shares of the company’s stock, valued at approximately $166,000.

Eureka Acquisition Company Profile

Eureka Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in Delaware, whose primary objective is to effect a merger, share exchange, asset acquisition or similar business combination with one or more operating businesses. The company conducted its initial public offering of units on the Nasdaq under the ticker EURKU. These units consist of one share of common stock and a fraction of a warrant, providing investors with both equity and potential upside participation in future business combinations.

As a blank‐check vehicle, Eureka Acquisition has no commercial operations of its own.