Short Interest in Group Nine Acquisition Corp. (NASDAQ:GNAC) Decreases By 82.4%

Group Nine Acquisition Corp. (NASDAQ:GNAC) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 2,800 shares, a drop of 82.4% from the September 15th total of 15,900 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 8,000 shares, the short-interest ratio is currently 0.4 days.

Large investors have recently modified their holdings of the business. Jane Street Group LLC bought a new position in Group Nine Acquisition during the 1st quarter valued at $2,029,000. Maso Capital Partners Ltd bought a new position in Group Nine Acquisition during the 1st quarter valued at $2,464,000. Weiss Asset Management LP bought a new position in Group Nine Acquisition during the 1st quarter valued at $2,918,000. Citadel Advisors LLC bought a new position in Group Nine Acquisition during the 1st quarter valued at $3,920,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Group Nine Acquisition during the 2nd quarter valued at $342,000. Institutional investors and hedge funds own 53.26% of the company’s stock.

Shares of NASDAQ:GNAC opened at $9.73 on Thursday. The stock’s fifty day simple moving average is $9.72 and its two-hundred day simple moving average is $9.77. Group Nine Acquisition has a 1-year low of $9.62 and a 1-year high of $10.48.

About Group Nine Acquisition

Group Nine Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.

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