Marblegate Acquisition Corp. (NASDAQ:GATE) Sees Significant Growth in Short Interest

Marblegate Acquisition Corp. (NASDAQ:GATE) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,500 shares, a growth of 525.0% from the October 15th total of 400 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 900 shares, the days-to-cover ratio is currently 2.8 days.

Marblegate Acquisition Price Performance

NASDAQ:GATE remained flat at $11.19 during trading on Thursday. The company’s stock had a trading volume of 9 shares, compared to its average volume of 1,311. The company has a 50 day simple moving average of $11.02 and a 200 day simple moving average of $10.88. Marblegate Acquisition has a 52-week low of $10.37 and a 52-week high of $12.30.

Institutional Trading of Marblegate Acquisition

A hedge fund recently raised its stake in Marblegate Acquisition stock. Clear Street LLC increased its stake in shares of Marblegate Acquisition Corp. (NASDAQ:GATE) by 162.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,756 shares of the company’s stock after acquiring an additional 12,848 shares during the quarter. Clear Street LLC owned approximately 0.18% of Marblegate Acquisition worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 9.39% of the company’s stock.

About Marblegate Acquisition

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.