Newbury Street Acquisition Co. (NASDAQ:NBST) Short Interest Up 50.0% in July

Newbury Street Acquisition Co. (NASDAQ:NBST) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 900 shares, an increase of 50.0% from the June 30th total of 600 shares. Based on an average trading volume of 2,700 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of Newbury Street Acquisition

A hedge fund recently bought a new stake in Newbury Street Acquisition stock. Berkley W R Corp acquired a new position in Newbury Street Acquisition Co. (NASDAQ:NBST) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 249,084 shares of the company’s stock, valued at approximately $2,640,000. Berkley W R Corp owned approximately 4.25% of Newbury Street Acquisition at the end of the most recent reporting period. 35.91% of the stock is owned by institutional investors and hedge funds.

Newbury Street Acquisition Price Performance

Shares of NASDAQ NBST traded down $0.05 during midday trading on Monday, hitting $10.85. 515 shares of the company’s stock traded hands, compared to its average volume of 11,831. The firm has a fifty day moving average of $10.89 and a 200 day moving average of $10.83. Newbury Street Acquisition has a 1 year low of $10.43 and a 1 year high of $11.83.

Newbury Street Acquisition Company Profile

Newbury Street Acquisition Corporation does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on technology business in the consumer internet or media space, including sports and entertainment verticals.