DP Cap Acquisition Corp I (NASDAQ:DPCS) Stock Price Up 0.7% – Still a Buy?

Shares of DP Cap Acquisition Corp I (NASDAQ:DPCS) were up 0.7% during trading on Tuesday . The stock traded as high as $11.53 and last traded at $11.53. Approximately 1,600 shares changed hands during trading, a decline of 92% from the average daily volume of 19,692 shares. The stock had previously closed at $11.45.

DP Cap Acquisition Corp I Stock Up 0.7 %

The stock has a 50 day moving average price of $11.40 and a two-hundred day moving average price of $11.27.

Institutional Investors Weigh In On DP Cap Acquisition Corp I

A number of hedge funds have recently added to or reduced their stakes in DPCS. Cowen AND Company LLC acquired a new position in shares of DP Cap Acquisition Corp I during the second quarter worth approximately $645,000. K2 Principal Fund L.P. bought a new position in DP Cap Acquisition Corp I in the 1st quarter worth approximately $1,060,000. Finally, Berkley W R Corp lifted its holdings in DP Cap Acquisition Corp I by 12.4% during the 2nd quarter. Berkley W R Corp now owns 224,166 shares of the company’s stock worth $2,513,000 after buying an additional 24,810 shares in the last quarter. Institutional investors own 40.45% of the company’s stock.

DP Cap Acquisition Corp I Company Profile

DP Cap Acquisition Corp I 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 or entities. It intends to acquire companies in the tech-enabled consumer and technology sectors.