Short Interest in Marblegate Acquisition Corp. (NASDAQ:GATE) Drops By 28.6%

Marblegate Acquisition Corp. (NASDAQ:GATE) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totalling 500 shares, a drop of 28.6% from the August 31st total of 700 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 600 shares, the days-to-cover ratio is presently 0.8 days.

Marblegate Acquisition Stock Performance

GATE stock remained flat at $10.91 during trading on Friday. The company had a trading volume of 24 shares, compared to its average volume of 364. Marblegate Acquisition has a 12 month low of $10.36 and a 12 month high of $12.30. The business’s fifty day moving average price is $10.95 and its 200-day moving average price is $10.74.

Institutional Trading of Marblegate Acquisition

Several large investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Marblegate Acquisition during the first quarter worth $114,000. Clear Street LLC grew its stake in Marblegate Acquisition by 162.5% during the 2nd quarter. Clear Street LLC now owns 20,756 shares of the company’s stock valued at $224,000 after acquiring an additional 12,848 shares in the last quarter. Finally, Cantor Fitzgerald L. P. acquired a new stake in Marblegate Acquisition in the 4th quarter valued at about $3,126,000. 9.39% of the stock is currently owned by hedge funds and other institutional investors.

Marblegate Acquisition Company Profile

Marblegate Acquisition Corp. does not have significant operations. The company focuses on effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire companies primarily in the education, business services, consumer products, and healthcare sectors.