Short Interest in Finnovate Acquisition Corp. (NASDAQ:FNVT) Increases By 50.0%

Finnovate Acquisition Corp. (NASDAQ:FNVT) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 300 shares, a growth of 50.0% from the February 29th total of 200 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 25,900 shares, the short-interest ratio is currently 0.0 days.

Finnovate Acquisition Price Performance

FNVT stock remained flat at $11.24 on Friday. The company had a trading volume of 2,701 shares, compared to its average volume of 39,246. Finnovate Acquisition has a one year low of $10.43 and a one year high of $11.50. The firm’s 50 day simple moving average is $11.19 and its two-hundred day simple moving average is $11.05.

Institutional Investors Weigh In On Finnovate Acquisition

Institutional investors have recently made changes to their positions in the company. Spartan Fund Management Inc. bought a new position in Finnovate Acquisition during the 3rd quarter valued at about $106,000. Centiva Capital LP purchased a new position in Finnovate Acquisition in the second quarter worth about $136,000. Schonfeld Strategic Advisors LLC grew its stake in shares of Finnovate Acquisition by 84.3% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 21,857 shares of the company’s stock valued at $228,000 after purchasing an additional 10,000 shares during the period. Walleye Trading LLC purchased a new stake in shares of Finnovate Acquisition during the 2nd quarter valued at about $267,000. Finally, Royal Bank of Canada lifted its stake in shares of Finnovate Acquisition by 8.7% in the 1st quarter. Royal Bank of Canada now owns 47,337 shares of the company’s stock worth $469,000 after purchasing an additional 3,800 shares during the period. Hedge funds and other institutional investors own 45.92% of the company’s stock.

Finnovate Acquisition Company Profile

Finnovate Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to focus on the acquisition of Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service, banking as a service, cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.