AI Transportation Acquisition Corp (NASDAQ:AITR) Sees Large Increase in Short Interest

AI Transportation Acquisition Corp (NASDAQ:AITR) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,500 shares, an increase of 7.1% from the May 31st total of 1,400 shares. Based on an average daily volume of 11,100 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Institutional Trading of AI Transportation Acquisition

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Karpus Management Inc. bought a new stake in shares of AI Transportation Acquisition during the first quarter worth about $10,235,000. Gabelli Funds LLC bought a new stake in AI Transportation Acquisition in the first quarter valued at approximately $1,029,000. Periscope Capital Inc. bought a new stake in AI Transportation Acquisition in the first quarter valued at approximately $1,028,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in AI Transportation Acquisition in the first quarter valued at approximately $1,027,000. Finally, Virtu Financial LLC bought a new stake in AI Transportation Acquisition in the first quarter valued at approximately $379,000. 81.89% of the stock is currently owned by institutional investors.

AI Transportation Acquisition Stock Performance

NASDAQ:AITR opened at $10.35 on Wednesday. The business’s 50-day moving average price is $10.34. AI Transportation Acquisition has a 1-year low of $10.11 and a 1-year high of $10.37.

AI Transportation Acquisition Company Profile

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.