Quantum FinTech Acquisition (NYSE:QFTA) Shares Down 4.6% – Here’s Why

Quantum FinTech Acquisition Co. (NYSE:QFTA)’s share price traded down 4.6% during trading on Tuesday . The stock traded as low as $0.20 and last traded at $0.20. 342,346 shares were traded during trading, an increase of 12,166% from the average session volume of 2,791 shares. The stock had previously closed at $0.21.

Quantum FinTech Acquisition Stock Performance

The business’s 50-day simple moving average is $0.23 and its 200 day simple moving average is $0.85.

Institutional Trading of Quantum FinTech Acquisition

An institutional investor recently bought a new position in Quantum FinTech Acquisition stock. Cable Car Capital LLC bought a new stake in shares of Quantum FinTech Acquisition Co. (NYSE:QFTA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,351,800 shares of the company’s stock, valued at approximately $14,581,000. Quantum FinTech Acquisition comprises 16.2% of Cable Car Capital LLC’s investment portfolio, making the stock its largest position. Cable Car Capital LLC owned approximately 23.33% of Quantum FinTech Acquisition at the end of the most recent quarter. 30.51% of the stock is currently owned by institutional investors.

Quantum FinTech Acquisition Company Profile

Quantum FinTech Acquisition Corporation does not have significant operations. It intends to effect a merger, capital share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. The company was incorporated in 2020 and is based in Tampa, Florida.