PowerUp Acquisition (NASDAQ:PWUP) Trading Down 11.8% – Here’s What Happened

PowerUp Acquisition Corp. (NASDAQ:PWUP)’s share price fell 11.8% during trading on Thursday . The company traded as low as $11.47 and last traded at $11.47. 760 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 16,646 shares. The stock had previously closed at $13.00.

PowerUp Acquisition Stock Performance

The business has a 50 day moving average of $11.52 and a two-hundred day moving average of $11.36.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in PowerUp Acquisition stock. First Pacific Advisors LP bought a new position in PowerUp Acquisition Corp. (NASDAQ:PWUP) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 56,966 shares of the company’s stock, valued at approximately $628,000. First Pacific Advisors LP owned about 0.63% of PowerUp Acquisition at the end of the most recent reporting period. Institutional investors and hedge funds own 19.17% of the company’s stock.

About PowerUp Acquisition

PowerUp Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on video gaming, gaming adjacent, and metaverse businesses.