Short Interest in AI Transportation Acquisition Corp (NASDAQ:AITR) Drops By 41.5%

AI Transportation Acquisition Corp (NASDAQ:AITR) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,800 shares, a decline of 41.5% from the October 15th total of 6,500 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 37,800 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Karpus Management Inc. acquired a new stake in AI Transportation Acquisition in the 1st quarter valued at about $10,235,000. Shaolin Capital Management LLC acquired a new stake in shares of AI Transportation Acquisition in the second quarter valued at approximately $2,637,000. Westchester Capital Management LLC bought a new position in AI Transportation Acquisition in the 3rd quarter worth approximately $1,860,000. Wolverine Asset Management LLC lifted its holdings in AI Transportation Acquisition by 53.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 362,670 shares of the company’s stock worth $3,801,000 after buying an additional 126,322 shares in the last quarter. Finally, Cowen AND Company LLC boosted its position in AI Transportation Acquisition by 90.4% in the 2nd quarter. Cowen AND Company LLC now owns 252,706 shares of the company’s stock valued at $2,616,000 after buying an additional 120,000 shares during the last quarter. Institutional investors and hedge funds own 81.89% of the company’s stock.

AI Transportation Acquisition Price Performance

AI Transportation Acquisition stock opened at $10.60 on Friday. The business’s fifty day moving average is $10.51 and its two-hundred day moving average is $10.42. AI Transportation Acquisition has a 52 week low of $10.11 and a 52 week high of $10.60.

About AI Transportation Acquisition

AI Transportation Acquisition Corp does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus on businesses in the transportation field, including logistics, new energy vehicles, smart parking, on-board chips and AI algorithms, automotive services, and related areas of intelligent transportation.