Short Interest in Global Blockchain Acquisition Corp. (NASDAQ:GBBK) Declines By 7.1%

Global Blockchain Acquisition Corp. (NASDAQ:GBBK) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,300 shares, a decrease of 7.1% from the August 15th total of 1,400 shares. Based on an average trading volume of 5,000 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Global Blockchain Acquisition stock. Berkley W R Corp increased its position in Global Blockchain Acquisition Corp. (NASDAQ:GBBK) by 2,887.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 351,131 shares of the company’s stock after acquiring an additional 339,378 shares during the period. Berkley W R Corp owned about 4.88% of Global Blockchain Acquisition worth $3,782,000 at the end of the most recent reporting period. Institutional investors own 33.57% of the company’s stock.

Global Blockchain Acquisition Price Performance

Shares of GBBK remained flat at $11.02 during trading hours on Wednesday. The stock had a trading volume of 2 shares, compared to its average volume of 13,012. The company’s 50-day moving average is $11.04 and its two-hundred day moving average is $10.96. Global Blockchain Acquisition has a 12-month low of $10.45 and a 12-month high of $12.00.

Global Blockchain Acquisition Company Profile

Global Blockchain Acquisition Corp. focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company intends to pursue targets that are focused on blockchain infrastructure, blockchain applications, and related technologies.