New Providence Acquisition Corp. (NASDAQ:NPA) shares traded down 6.4% during trading on Tuesday . The stock traded as low as $13.60 and last traded at $16.40. 4,450,998 shares were traded during mid-day trading, an increase of 103% from the average session volume of 2,190,688 shares. The stock had previously closed at $17.52.
The firm’s 50 day moving average price is $15.90.
A number of institutional investors have recently added to or reduced their stakes in NPA. GWM Advisors LLC purchased a new stake in New Providence Acquisition during the 4th quarter worth approximately $272,000. IHT Wealth Management LLC bought a new stake in shares of New Providence Acquisition in the 4th quarter valued at approximately $273,000. Lombard Odier Asset Management USA Corp bought a new stake in shares of New Providence Acquisition in the 4th quarter valued at approximately $327,000. One68 Global Capital LLC bought a new stake in shares of New Providence Acquisition in the 3rd quarter valued at approximately $252,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of New Providence Acquisition in the 3rd quarter valued at approximately $273,000. 63.88% of the stock is currently owned by hedge funds and other institutional investors.
New Providence Acquisition Corp. does not have significant operations. It intends to acquire business through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or business combination with one or more businesses. The company was founded in 2019 and is based in Austin, Texas.
Featured Story: What is a Secondary Public Offering?
Receive News & Ratings for New Providence Acquisition Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Providence Acquisition and related companies with MarketBeat.com's FREE daily email newsletter.