Short Interest in New Providence Acquisition Corp. II (NASDAQ:NPAB) Increases By 150.0%

New Providence Acquisition Corp. II (NASDAQ:NPAB) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 500 shares, a growth of 150.0% from the April 30th total of 200 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 9,800 shares, the short-interest ratio is currently 0.1 days.

New Providence Acquisition Corp. II Trading Down 4.7 %

New Providence Acquisition Corp. II stock traded down $0.59 during trading hours on Friday, hitting $11.89. The stock had a trading volume of 3,391 shares, compared to its average volume of 25,996. New Providence Acquisition Corp. II has a fifty-two week low of $10.39 and a fifty-two week high of $13.50. The company has a 50-day moving average of $10.94 and a two-hundred day moving average of $10.77.

Hedge Funds Weigh In On New Providence Acquisition Corp. II

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Berkley W R Corp bought a new position in shares of New Providence Acquisition Corp. II in the first quarter worth about $2,233,000. K2 Principal Fund L.P. acquired a new position in shares of New Providence Acquisition Corp. II in the 1st quarter valued at $1,077,000. Mizuho Securities USA LLC bought a new stake in shares of New Providence Acquisition Corp. II in the first quarter worth about $659,000. Karpus Management Inc. acquired a new stake in New Providence Acquisition Corp. II during the 1st quarter worth approximately $283,000. Finally, Robinson Capital Management LLC lifted its position in New Providence Acquisition Corp. II by 3,546.3% in the 1st quarter. Robinson Capital Management LLC now owns 20,930 shares of the company’s stock valued at $227,000 after acquiring an additional 20,356 shares in the last quarter.

New Providence Acquisition Corp. II Company Profile

New Providence Acquisition Corp. II does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses in the consumer industry. The company was incorporated in 2020 and is based in Austin, Texas.