New Providence Acquisition Corp. II (NASDAQ:NPAB) Trading Down 11.1%

Shares of New Providence Acquisition Corp. II (NASDAQ:NPAB) were down 11.1% on Wednesday . The company traded as low as $11.80 and last traded at $11.90. Approximately 5,867 shares traded hands during trading, a decline of 62% from the average daily volume of 15,548 shares. The stock had previously closed at $13.39.

New Providence Acquisition Corp. II Trading Down 11.1 %

The business has a fifty day simple moving average of $12.66 and a two-hundred day simple moving average of $11.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NPAB. Berkley W R Corp bought a new stake in shares of New Providence Acquisition Corp. II in the 1st quarter worth approximately $2,233,000. K2 Principal Fund L.P. bought a new stake in shares of New Providence Acquisition Corp. II in the 1st quarter worth approximately $1,077,000. Robinson Capital Management LLC boosted its position in shares of 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 worth $227,000 after purchasing an additional 20,356 shares in the last quarter. Karpus Management Inc. bought a new stake in shares of New Providence Acquisition Corp. II in the 1st quarter worth approximately $283,000. Finally, Mizuho Securities USA LLC bought a new stake in shares of New Providence Acquisition Corp. II in the 1st quarter worth approximately $659,000.

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.