OTGAU (NASDAQ:OTGAU) Sees Significant Growth in Short Interest

OTGAU (NASDAQ:OTGAU) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 214 shares. Based on an average daily volume of 727 shares, the short-interest ratio is currently 0.3 days.

OTGAU Stock Up 0.1%

Shares of OTGAU stock traded up $0.01 during trading on Friday, hitting $10.36. 1,878 shares of the stock traded hands, compared to its average volume of 8,664. The company has a fifty day moving average price of $10.38 and a two-hundred day moving average price of $10.30. OTGAU has a twelve month low of $10.09 and a twelve month high of $10.44.

Institutional Trading of OTGAU

A number of institutional investors have recently added to or reduced their stakes in the business. Lineage Point Capital LP acquired a new position in shares of OTGAU during the 2nd quarter worth $4,644,000. Citadel Advisors LLC bought a new stake in OTGAU in the second quarter worth $117,000. OMERS ADMINISTRATION Corp acquired a new position in OTGAU during the first quarter worth $106,000. Finally, Rangeley Capital LLC raised its holdings in OTGAU by 84.6% during the first quarter. Rangeley Capital LLC now owns 50,805 shares of the company’s stock valued at $520,000 after buying an additional 23,285 shares in the last quarter.

OTGAU Company Profile

OTG Acquisition Corp. is a special purpose acquisition company (SPAC) organized to identify and complete a business combination with one or more operating businesses. Its publicly traded units are listed on the Nasdaq under the symbol OTGAU.

Unlike an operating company, OTG Acquisition Corp. does not manufacture products or provide services to customers. Its activities primarily involve evaluating potential merger, acquisition, or similar transactions and seeking shareholder approval for a proposed combination.

Until a transaction is completed, the company’s operations are generally limited to organizational activities, regulatory filings, investor communications, and the management of funds held for the purpose of completing a business combination.