Newbury Street Acquisition (NASDAQ:NBST) Stock Price Down 5.1% – Here’s What Happened

Newbury Street Acquisition Co. (NASDAQ:NBST)’s stock price was down 5.1% on Monday . The company traded as low as $11.00 and last traded at $11.00. Approximately 1,000 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 11,064 shares. The stock had previously closed at $11.59.

Newbury Street Acquisition Price Performance

The firm’s fifty day moving average price is $10.87 and its 200-day moving average price is $10.89.

Institutional Investors Weigh In On Newbury Street Acquisition

A hedge fund recently raised its stake in Newbury Street Acquisition stock. Clear Street LLC boosted its holdings in shares of Newbury Street Acquisition Co. (NASDAQ:NBST) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,425 shares of the company’s stock after purchasing an additional 4,390 shares during the period. Clear Street LLC owned approximately 1.58% of Newbury Street Acquisition worth $857,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 35.91% of the company’s stock.

Newbury Street Acquisition Company Profile

Newbury Street Acquisition Corporation does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on technology business in the consumer internet or media space, including sports and entertainment verticals.