Kensington Capital Acquisition Corp. II (NYSE:KCAC) Sees Significant Increase in Short Interest

Kensington Capital Acquisition Corp. II (NYSE:KCAC) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 413,500 shares, a growth of 211.6% from the August 15th total of 132,700 shares. Based on an average daily trading volume, of 138,300 shares, the days-to-cover ratio is presently 3.0 days. Currently, 1.8% of the company’s stock are sold short.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Kensington Capital Acquisition Corp. II during the 2nd quarter worth approximately $441,000. Picton Mahoney Asset Management acquired a new stake in shares of Kensington Capital Acquisition Corp. II during the 2nd quarter worth approximately $498,000. Bluefin Capital Management LLC acquired a new stake in shares of Kensington Capital Acquisition Corp. II during the 2nd quarter worth approximately $607,000. Arena Capital Advisors LLC CA bought a new position in Kensington Capital Acquisition Corp. II in the 2nd quarter worth approximately $995,000. Finally, Electron Capital Partners LLC bought a new position in Kensington Capital Acquisition Corp. II in the 1st quarter worth approximately $1,026,000. Hedge funds and other institutional investors own 28.95% of the company’s stock.

NYSE KCAC traded up $0.01 on Wednesday, hitting $9.92. 50,308 shares of the stock traded hands, compared to its average volume of 136,090. The stock has a 50-day moving average of $9.90 and a 200 day moving average of $21.10. Kensington Capital Acquisition Corp. II has a twelve month low of $9.78 and a twelve month high of $10.65.

Kensington Capital Acquisition Corp. II Company Profile

Kensington Capital Acquisition Corp. II focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded in 2021 and is based in Westbury, New York.

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