Plum Acquisition Corp. IV (NASDAQ:PLMK) Sees Significant Drop in Short Interest

Plum Acquisition Corp. IV (NASDAQ:PLMK) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 621 shares, a decline of 81.2% from the June 15th total of 3,301 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 285,811 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Plum Acquisition Corp. IV

A number of institutional investors have recently bought and sold shares of the company. Governors Lane LP boosted its holdings in Plum Acquisition Corp. IV by 133.3% in the 4th quarter. Governors Lane LP now owns 700,000 shares of the company’s stock valued at $7,315,000 after purchasing an additional 399,900 shares during the last quarter. Sona Asset Management US LLC purchased a new stake in shares of Plum Acquisition Corp. IV during the 1st quarter valued at approximately $3,696,000. Goldman Sachs Group Inc. purchased a new stake in shares of Plum Acquisition Corp. IV during the 1st quarter valued at approximately $3,409,000. Radcliffe Capital Management L.P. acquired a new position in Plum Acquisition Corp. IV in the second quarter valued at approximately $3,201,000. Finally, Rivernorth Capital Management LLC lifted its holdings in Plum Acquisition Corp. IV by 45.6% in the fourth quarter. Rivernorth Capital Management LLC now owns 369,581 shares of the company’s stock valued at $3,855,000 after acquiring an additional 115,831 shares during the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Plum Acquisition Corp. IV in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Plum Acquisition Corp. IV currently has an average rating of “Sell”.

Plum Acquisition Corp. IV Stock Performance

Plum Acquisition Corp. IV stock traded down $0.11 during trading on Friday, reaching $10.66. 2,101 shares of the company were exchanged, compared to its average volume of 153,695. The stock’s 50 day simple moving average is $10.64 and its two-hundred day simple moving average is $10.56. Plum Acquisition Corp. IV has a 52-week low of $10.27 and a 52-week high of $11.77.

Plum Acquisition Corp. IV (NASDAQ:PLMK) last issued its earnings results on Friday, May 15th. The company reported $0.05 earnings per share (EPS) for the quarter.

About Plum Acquisition Corp. IV

Plum Acquisition Corp. IV is a special purpose acquisition company incorporated in the Cayman Islands. Trading on the Nasdaq under the ticker PLMK, the company has no operating history and was formed for the purpose of effecting one or more business combinations, such as a merger, capital stock exchange, asset acquisition or similar transaction.

The company completed its initial public offering, raising capital through the sale of units comprised of ordinary shares and warrants. The net proceeds of the offering are held in a trust account, pending the identification and consummation of a suitable business combination within the prescribed timeframe, generally 24 months from the closing date of the offering.

Although Plum Acquisition Corp.