Blue Ocean Acquisition Corp. (NASDAQ:BOCN) Sees Large Increase in Short Interest

Posted by Jeff Wilder on Nov 29th, 2024

Blue Ocean Acquisition Corp. (NASDAQ:BOCN – Get Free Report) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,500 shares, a growth of 56.3% from the October 31st total of 1,600 shares. Based on an average daily trading volume, of 12,700 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Investors Weigh In On Blue Ocean Acquisition

Several hedge funds and other institutional investors have recently made changes to their positions in the business. K2 Principal Fund L.P. purchased a new position in Blue Ocean Acquisition in the third quarter valued at approximately $1,020,000. Berkley W R Corp purchased a new position in shares of Blue Ocean Acquisition in the 3rd quarter valued at $1,196,000. Finally, Wolverine Asset Management LLC raised its stake in Blue Ocean Acquisition by 1,183.9% during the 2nd quarter. Wolverine Asset Management LLC now owns 185,657 shares of the company’s stock worth $2,072,000 after acquiring an additional 171,197 shares in the last quarter.

Blue Ocean Acquisition Stock Down 8.4 %

Blue Ocean Acquisition stock traded down $1.15 during midday trading on Friday, reaching $12.60. The company’s stock had a trading volume of 12,280 shares, compared to its average volume of 35,039. The business has a 50-day simple moving average of $11.50 and a 200-day simple moving average of $11.32. Blue Ocean Acquisition has a fifty-two week low of $10.74 and a fifty-two week high of $13.75.

About Blue Ocean Acquisition

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Blue Ocean Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company intends to focus within the consumer Internet sector in segments, such as online marketplaces, education and advertising technology, and direct-to-consumer e-commerce businesses in Asia, Latin America, and North America.