Marblegate Acquisition (NASDAQ:GATE) Stock Price Down 1.8% – Time to Sell?

Shares of Marblegate Acquisition Corp. (NASDAQ:GATE) traded down 1.8% during trading on Thursday . The company traded as low as $10.90 and last traded at $10.90. 4,057 shares changed hands during trading, an increase of 94% from the average session volume of 2,087 shares. The stock had previously closed at $11.10.

Marblegate Acquisition Stock Performance

The company’s 50 day moving average price is $10.99 and its two-hundred day moving average price is $10.81.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Marblegate Acquisition stock. Virtu Financial LLC acquired a new stake in shares of Marblegate Acquisition Corp. (NASDAQ:GATE) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,896 shares of the company’s stock, valued at approximately $114,000. Virtu Financial LLC owned about 0.09% of Marblegate Acquisition as of its most recent SEC filing. Institutional investors and hedge funds own 9.39% of the company’s stock.

Marblegate Acquisition Company Profile

Marblegate Acquisition Corp. does not have significant operations. The company focuses on effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire companies primarily in the education, business services, consumer products, and healthcare sectors.