Burtech Acquisition (NASDAQ:BRKH) Trading Up 13.9% – Still a Buy?

Burtech Acquisition Corp. (NASDAQ:BRKH) rose 13.9% on Monday . The stock traded as high as $29.61 and last traded at $15.00. Approximately 2,989 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 27,399 shares. The stock had previously closed at $13.18.

Burtech Acquisition Price Performance

The stock has a 50-day moving average price of $11.56 and a two-hundred day moving average price of $11.33.

Institutional Trading of Burtech Acquisition

Large investors have recently added to or reduced their stakes in the stock. Spartan Fund Management Inc. bought a new position in Burtech Acquisition in the 3rd quarter worth $1,693,000. Mizuho Securities USA LLC boosted its stake in shares of Burtech Acquisition by 3.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 477,327 shares of the company’s stock valued at $5,360,000 after purchasing an additional 14,843 shares in the last quarter. Finally, Clear Street LLC increased its position in shares of Burtech Acquisition by 141.8% during the second quarter. Clear Street LLC now owns 3,206 shares of the company’s stock valued at $36,000 after buying an additional 1,880 shares during the period. Institutional investors own 97.12% of the company’s stock.

About Burtech Acquisition

Burtech Acquisition Corp. does not have significant operations. The company focuses to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire a business, which operates in the retail, lifestyle, hospitality, technology, and real estate markets.