New Providence Acquisition Corp. II (NASDAQ:NPAB) Stock Price Up 2.5% – Here’s Why

New Providence Acquisition Corp. II (NASDAQ:NPAB)’s stock price was up 2.5% during mid-day trading on Thursday . The stock traded as high as $12.90 and last traded at $12.30. Approximately 327 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 15,125 shares. The stock had previously closed at $12.00.

New Providence Acquisition Corp. II Stock Up 2.5 %

The firm has a 50 day moving average price of $12.20 and a 200-day moving average price of $11.95.

Institutional Investors Weigh In On New Providence Acquisition Corp. II

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mizuho Securities USA LLC bought a new position in New Providence Acquisition Corp. II during the 1st quarter valued at about $659,000. Karpus Management Inc. purchased a new stake in shares of New Providence Acquisition Corp. II in the first quarter worth approximately $283,000. Robinson Capital Management LLC lifted its stake in shares of New Providence Acquisition Corp. II by 3,546.3% during the 1st quarter. Robinson Capital Management LLC now owns 20,930 shares of the company’s stock worth $227,000 after acquiring an additional 20,356 shares during the last quarter. K2 Principal Fund L.P. purchased a new position in New Providence Acquisition Corp. II during the 1st quarter valued at $1,077,000. Finally, Berkley W R Corp bought a new position in New Providence Acquisition Corp. II in the 1st quarter valued at $2,233,000.

About New Providence Acquisition Corp. II

New Providence Acquisition Corp. II does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses in the consumer industry. The company was incorporated in 2020 and is based in Austin, Texas.