Fintech Ecosystem Development Corp. (NASDAQ:FEXD) Short Interest Up 59.5% in March

Fintech Ecosystem Development Corp. (NASDAQ:FEXD) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 13,400 shares, an increase of 59.5% from the February 29th total of 8,400 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 26,900 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Westchester Capital Management LLC bought a new position in shares of Fintech Ecosystem Development in the third quarter worth $1,607,000. Caas Capital Management LP grew its stake in shares of Fintech Ecosystem Development by 17.5% in the second quarter. Caas Capital Management LP now owns 32,230 shares of the company’s stock worth $340,000 after purchasing an additional 4,800 shares in the last quarter. Kim LLC bought a new position in shares of Fintech Ecosystem Development in the second quarter worth $1,137,000. Tuttle Capital Management LLC bought a new position in shares of Fintech Ecosystem Development in the third quarter worth $159,000. Finally, Sea Otter Advisors LLC grew its stake in shares of Fintech Ecosystem Development by 37.1% in the fourth quarter. Sea Otter Advisors LLC now owns 80,083 shares of the company’s stock worth $821,000 after purchasing an additional 21,683 shares in the last quarter.

Fintech Ecosystem Development Stock Performance

Shares of FEXD opened at $11.00 on Friday. The stock has a fifty day moving average price of $10.85 and a 200 day moving average price of $10.76. Fintech Ecosystem Development has a 12 month low of $10.48 and a 12 month high of $11.00.

Fintech Ecosystem Development Company Profile

Fintech Ecosystem Development Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire companies in the financial technology development sector in South Asia.