Burtech Acquisition Corp. (NASDAQ:BRKH) Sees Significant Decrease in Short Interest

Burtech Acquisition Corp. (NASDAQ:BRKH) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 5,800 shares, a decrease of 12.1% from the May 31st total of 6,600 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 4,300 shares, the days-to-cover ratio is currently 1.3 days.

Burtech Acquisition Stock Performance

Shares of NASDAQ BRKH traded down $0.03 during mid-day trading on Friday, reaching $11.12. The company’s stock had a trading volume of 347 shares, compared to its average volume of 1,689. Burtech Acquisition has a 52 week low of $10.44 and a 52 week high of $11.24. The stock has a fifty day moving average of $11.12 and a two-hundred day moving average of $10.95.

Hedge Funds Weigh In On Burtech Acquisition

A number of hedge funds and other institutional investors have recently modified their holdings of BRKH. Berkley W R Corp raised its stake in shares of Burtech Acquisition by 110.1% in the fourth quarter. Berkley W R Corp now owns 522,205 shares of the company’s stock valued at $5,603,000 after acquiring an additional 273,630 shares during the period. K2 Principal Fund L.P. purchased a new position in shares of Burtech Acquisition during the fourth quarter valued at approximately $2,709,000. Wolverine Asset Management LLC purchased a new position in shares of Burtech Acquisition during the fourth quarter valued at approximately $26,000. Spartan Fund Management Inc. bought a new position in shares of Burtech Acquisition during the fourth quarter valued at approximately $218,000. Finally, Radcliffe Capital Management L.P. raised its holdings in shares of Burtech Acquisition by 8.1% in the third quarter. Radcliffe Capital Management L.P. now owns 163,373 shares of the company’s stock worth $1,728,000 after buying an additional 12,273 shares during the period. Institutional investors own 97.12% of the company’s stock.

Burtech Acquisition Company Profile

Burtech Acquisition Corp. does not have significant operations. The company focuses to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire a business, which operates in the retail, lifestyle, hospitality, technology, and real estate markets.