AI Transportation Acquisition Corp (NASDAQ:AITR) Sees Significant Drop in Short Interest

AI Transportation Acquisition Corp (NASDAQ:AITR) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 3,800 shares, a drop of 41.5% from the October 15th total of 6,500 shares. Based on an average daily volume of 37,800 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are short sold.

AI Transportation Acquisition Trading Down 0.9 %

Shares of NASDAQ AITR opened at $10.45 on Wednesday. AI Transportation Acquisition has a 12-month low of $10.11 and a 12-month high of $10.59. The stock has a 50 day simple moving average of $10.51 and a 200-day simple moving average of $10.42.

Institutional Trading of AI Transportation Acquisition

Hedge funds have recently added to or reduced their stakes in the business. Periscope Capital Inc. acquired a new stake in AI Transportation Acquisition in the first quarter worth about $1,028,000. Karpus Management Inc. acquired a new position in shares of AI Transportation Acquisition during the first quarter valued at approximately $10,235,000. Gabelli Funds LLC bought a new stake in AI Transportation Acquisition during the first quarter worth approximately $1,029,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in AI Transportation Acquisition during the first quarter worth approximately $1,027,000. Finally, Whitebox Advisors LLC acquired a new stake in AI Transportation Acquisition in the first quarter worth approximately $206,000. Institutional investors own 81.89% of the company’s stock.

AI Transportation Acquisition Company Profile

AI Transportation 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 or entities. It intends to focus on businesses in the transportation field, including logistics, new energy vehicles, smart parking, on-board chips and AI algorithms, automotive services, and related areas of intelligent transportation.