Pioneer Acquisition I Corp. (NASDAQ:PACH) Sees Large Decline in Short Interest

Pioneer Acquisition I Corp. (NASDAQ:PACH) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 1,050 shares, a drop of 34.9% from the June 30th total of 1,612 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 46,541 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Sona Asset Management US LLC purchased a new stake in Pioneer Acquisition I during the 1st quarter worth approximately $1,125,000. Lineage Point Capital LP purchased a new position in Pioneer Acquisition I in the 4th quarter valued at approximately $1,073,000. Alberta Investment Management Corp acquired a new position in shares of Pioneer Acquisition I in the fourth quarter worth $5,030,000. Stoic Point Capital Management LLC purchased a new stake in shares of Pioneer Acquisition I during the fourth quarter worth $339,000. Finally, Rivernorth Capital Management LLC raised its stake in shares of Pioneer Acquisition I by 36.4% in the fourth quarter. Rivernorth Capital Management LLC now owns 249,758 shares of the company’s stock valued at $2,510,000 after acquiring an additional 66,665 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Pioneer Acquisition I in a research note on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Pioneer Acquisition I Price Performance

Shares of PACH stock traded up $0.01 on Friday, hitting $10.28. The stock had a trading volume of 502 shares, compared to its average volume of 49,537. The company’s 50 day moving average price is $10.24 and its 200-day moving average price is $10.18. Pioneer Acquisition I has a 1 year low of $9.94 and a 1 year high of $10.29.

Pioneer Acquisition I (NASDAQ:PACH) last announced its earnings results on Friday, May 15th. The company reported $0.06 EPS for the quarter.

About Pioneer Acquisition I

Pioneer Acquisition I (NASDAQ: PACH) is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I’s activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.