Short Interest in Compass Digital Acquisition Corp. (NASDAQ:CDAQ) Drops By 46.0%

Compass Digital Acquisition Corp. (NASDAQ:CDAQ) saw a large drop in short interest in July. As of July 31st, there was short interest totalling 2,700 shares, a drop of 46.0% from the July 15th total of 5,000 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 35,600 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Compass Digital Acquisition

Several institutional investors and hedge funds have recently modified their holdings of CDAQ. Robinson Capital Management LLC purchased a new position in shares of Compass Digital Acquisition in the fourth quarter worth $183,000. Mizuho Securities USA LLC purchased a new position in Compass Digital Acquisition in the 4th quarter worth about $2,425,000. Virtu Financial LLC lifted its position in Compass Digital Acquisition by 127.2% during the fourth quarter. Virtu Financial LLC now owns 31,962 shares of the company’s stock valued at $338,000 after purchasing an additional 17,892 shares during the period. Berkley W R Corp boosted its holdings in Compass Digital Acquisition by 821.0% in the first quarter. Berkley W R Corp now owns 498,632 shares of the company’s stock worth $5,335,000 after purchasing an additional 444,489 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in Compass Digital Acquisition in the 1st quarter worth approximately $249,000. 77.38% of the stock is currently owned by institutional investors.

Compass Digital Acquisition Stock Performance

Shares of CDAQ traded down $0.14 during mid-day trading on Wednesday, reaching $10.75. The company had a trading volume of 3,342 shares, compared to its average volume of 39,914. Compass Digital Acquisition has a 52 week low of $10.41 and a 52 week high of $12.50. The firm has a 50-day moving average price of $10.89 and a 200 day moving average price of $10.79.

Compass Digital Acquisition Company Profile

Compass Digital Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus its search on companies in the technology sectors, including in the technology led digital transformation software and services sector.