Broad Capital Acquisition Corp. (NASDAQ:BRAC) Short Interest Down 20.0% in March

Broad Capital Acquisition Corp. (NASDAQ:BRAC) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 400 shares, a decline of 20.0% from the March 15th total of 500 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 4,900 shares, the short-interest ratio is presently 0.1 days.

Broad Capital Acquisition Stock Performance

BRAC remained flat at $11.25 on Friday. The company had a trading volume of 100 shares, compared to its average volume of 115. Broad Capital Acquisition has a 1 year low of $10.62 and a 1 year high of $12.31. The firm has a 50-day moving average of $11.24 and a 200 day moving average of $11.12.

Insider Buying and Selling at Broad Capital Acquisition

In related news, major shareholder Yakira Capital Management, Inc sold 8,750 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $11.20, for a total value of $98,000.00. Following the completion of the sale, the insider now directly owns 571,850 shares in the company, valued at approximately $6,404,720. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 39.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Broad Capital Acquisition

A number of hedge funds have recently bought and sold shares of BRAC. Berkley W R Corp bought a new stake in shares of Broad Capital Acquisition during the 1st quarter valued at about $692,000. EHP Funds Inc. bought a new stake in shares of Broad Capital Acquisition during the first quarter valued at about $248,000. Radcliffe Capital Management L.P. bought a new position in Broad Capital Acquisition in the 1st quarter valued at about $991,000. Polar Asset Management Partners Inc. acquired a new position in Broad Capital Acquisition during the 1st quarter valued at about $4,945,000. Finally, Glazer Capital LLC bought a new stake in shares of Broad Capital Acquisition during the 1st quarter worth about $983,000.

About Broad Capital Acquisition

Broad Capital Acquisition Corp. does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2021 and is based in Dallas, Texas.