In December, Technology and Telecommunication Acquisition Company experienced a significant rise in the number of vacant positions across the company (NASDAQ: TETE). There were 2,000 shares available for a short sale as of the 30th of December. This represents a 25.0% increase from the volume of 1,600 shares traded the day before. The days-to-cover ratio is currently at 0.1 days, which was determined based on an average daily volume of 26,900 shares. This ratio was arrived at by calculation. At present, not one of the company’s shares is being sold “short,” bringing the total number of short sales to zero.
On Friday, the price of NASDAQ: TETE stock increased by $0.02, reaching $10.35; however, only 607 shares were traded, a significantly lower volume than the company’s average daily volume of 63,742 shares. Throughout the last year, the cost of technology and telecommunications acquisition has ranged from $9.88 to $10.96 at various points. The current value of the company’s 200-day simple moving average and its fifty-day simple moving average is $10.16. In the end, the total amount owed is $10.28.
The company’s stock was bought and sold by several institutional investors and hedge funds in the most recent transactions. Weiss Asset Management L.P. increased the proportion of Technology and Telecommunications Acquisition shares it owned by 2.2% during the third quarter. Weiss Asset Management L.P. currently holds a total of 230,500 shares following the acquisition of an additional 5,000 in the most recent quarter. The current value of the company’s stock on the market is estimated to be $2,332,000. The percentage of State Street Corporation’s holdings invested in technology and telecommunications acquisitions saw a 29.5% increase during the third quarter compared to the previous quarter. In the most recent quarter, State Street Corporation increased its ownership stake by purchasing an additional 3,300 shares. As a result, the corporation now owns a total of 14,500 shares, which is equivalent to a total investment of $146,000. The percentage of Polar Asset Management Partners Inc.’s holdings that were allocated to technology and telecommunications acquisitions increased by 4.7% during the third quarter of the fiscal year. Polar Asset Management Partners Inc. now holds 555,850 shares after purchasing an additional 25,050 shares during the most recent quarter. The value of the company’s stock held by Polar Asset Management Partners Inc. is $5,614,000. First Trust Capital Management L.P. spent approximately $3,146,000 purchasing a new position in Technology and Telecommunications Acquisition during the third quarter of the fiscal year. They have expanded their portfolio to include this newly acquired interest. And finally, during the third quarter, Shaolin Capital Management LLC saw a 14.8% increase in the proportion of its investments in acquisitions related to technology and telecommunications. Since the beginning of the quarter, Shaolin Capital Management LLC has acquired an additional 85,000 shares, bringing the total number of shares it holds in the company to 660,000. These shares have a value of $6,666,000, making Shaolin Capital Management LLC’s investment in the company $6,666,000. Currently, institutions own 60.80% of the equity in the company.
To complete any of the following business combinations—merger, share exchange, asset acquisition, share purchase, reorganization, or analogous business combination—Technology & Telecommunication Acquisition Corporation will need to work with at least one other company or entity. It is mulling over the possibility of purchasing technological and telecommunications businesses in Malaysia.
