Battery Future Acquisition Corp. (NYSE:BFAC) is seeing a significant decline in short interest

Battery Future Acquisition Corp. (NYSE:BFAC – Get Free Report) was the target of a significant drop in short interest in June. As of June 15, short interest totaled 100 shares, down 95.8% from May 31, when it stood at 2,400 shares. Based on average trading volume of 89,200 shares, the short interest rate is currently 0.0 days.

Institutional investors weigh future battery acquisitions

Many institutional investors have recently made changes to their positions in the stock. Berkley WR Corp acquired a new position in shares of Battery Future Acquisition during the first quarter worth approximately $1,669,000. Quarry LP acquired a new stake in shares of Battery Future Acquisition during the fourth quarter worth approximately $1,131,000. Robinson Capital Management LLC purchased a new stake in shares of Battery Future Acquisition during the 4th quarter valued at approximately $753,000. Deltec Asset Management LLC acquired a new stake in shares of Battery Future Acquisition during the 4th quarter valued at approximately $542,000. Finally, in the first quarter, Karpus Management Inc. increased its position in Battery Future Acquisition shares by 77.5%. Karpus Management Inc. now owns 40,085 shares of the company’s stock valued at $441,000 after purchasing an additional 17,500 shares in the last quarter. 74.70% of the shares are currently held by institutional investors and hedge funds.

Battery Future Acquisition Stock Performance

BFAC shares opened on Friday at $11.04. Battery Future Acquisition has a yearly low of $9.60 and a yearly high of $11.55. The company has a 50-day simple moving average of $11.06 and a two-hundred day simple moving average of $10.99.

Battery Future Acquisition Company Profile

(Get the free report)

Battery Future Acquisition Corp. has no significant operations. The Company is focused on pursuing a merger, equity exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more companies. It intends to focus on assets or companies along the battery value chain.

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