Blue Ocean Acquisition (NASDAQ:BOCN) Stock Price Up 1.9% – Should You Buy?

Blue Ocean Acquisition Corp. (NASDAQ:BOCN)’s stock price shot up 1.9% during trading on Monday . The company traded as high as $11.76 and last traded at $10.72. 16,500 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 34,502 shares. The stock had previously closed at $10.52.

Blue Ocean Acquisition Price Performance

The stock has a 50 day moving average price of $11.29 and a 200 day moving average price of $11.30.

Hedge Funds Weigh In On Blue Ocean Acquisition

Hedge funds have recently modified their holdings of the company. K2 Principal Fund L.P. acquired a new position in Blue Ocean Acquisition in the third quarter valued at approximately $1,020,000. Berkley W R Corp purchased a new position in shares of Blue Ocean Acquisition during the 3rd quarter valued at approximately $1,196,000. Finally, Wolverine Asset Management LLC lifted its stake in shares of Blue Ocean Acquisition by 1,183.9% in the 2nd quarter. Wolverine Asset Management LLC now owns 185,657 shares of the company’s stock valued at $2,072,000 after purchasing an additional 171,197 shares during the period.

About Blue Ocean Acquisition

Blue Ocean Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company intends to focus within the consumer Internet sector in segments, such as online marketplaces, education and advertising technology, and direct-to-consumer e-commerce businesses in Asia, Latin America, and North America.