Northern Lights Acquisition Corp. (NASDAQ:NLIT) Short Interest Update

Northern Lights Acquisition Corp. (NASDAQ:NLITGet Rating) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 11,100 shares, a decrease of 30.6% from the July 15th total of 16,000 shares. Based on an average daily trading volume, of 151,100 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

Northern Lights Acquisition Stock Down 7.4 %

Shares of NLIT stock traded down $0.79 on Friday, hitting $9.90. 1,085 shares of the stock were exchanged, compared to its average volume of 11,929. The business has a 50-day moving average of $10.07 and a 200 day moving average of $10.11. Northern Lights Acquisition has a fifty-two week low of $7.72 and a fifty-two week high of $30.47.

Insider Transactions at Northern Lights Acquisition

In other news, major shareholder Boothbay Fund Management, Llc sold 1,300,000 shares of the company’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $10.21, for a total transaction of $13,273,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

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Several institutional investors and hedge funds have recently modified their holdings of the company. Logan Stone Capital LLC acquired a new position in Northern Lights Acquisition during the fourth quarter valued at approximately $281,000. Karpus Management Inc. boosted its position in Northern Lights Acquisition by 17.0% during the fourth quarter. Karpus Management Inc. now owns 1,103,397 shares of the company’s stock valued at $11,111,000 after purchasing an additional 160,097 shares during the last quarter. Bank of America Corp DE acquired a new position in Northern Lights Acquisition during the fourth quarter valued at approximately $3,524,000. Glazer Capital LLC acquired a new position in Northern Lights Acquisition during the first quarter valued at approximately $1,232,000. Finally, Goldman Sachs Group Inc. acquired a new position in Northern Lights Acquisition during the first quarter valued at approximately $111,000. 79.50% of the stock is owned by institutional investors and hedge funds.

About Northern Lights Acquisition

(Get Rating)

Northern Lights Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the cannabis industry. The company was incorporated in 2021 and is based in New York, New York.

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