Blue Ocean Acquisition Corp. (NASDAQ:BOCN) Sees Large Drop in Short Interest

Blue Ocean Acquisition Corp. (NASDAQ:BOCN) saw a large drop in short interest in October. As of October 15th, there was short interest totalling 100 shares, a drop of 85.7% from the September 30th total of 700 shares. Based on an average trading volume of 7,900 shares, the short-interest ratio is presently 0.0 days.

Institutional Investors Weigh In On Blue Ocean Acquisition

A hedge fund recently raised its stake in Blue Ocean Acquisition stock. Wolverine Asset Management LLC boosted its position in Blue Ocean Acquisition Corp. (NASDAQ:BOCN) by 1,183.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 185,657 shares of the company’s stock after purchasing an additional 171,197 shares during the period. Wolverine Asset Management LLC owned about 1.70% of Blue Ocean Acquisition worth $2,072,000 as of its most recent filing with the SEC.

Blue Ocean Acquisition Price Performance

Shares of NASDAQ BOCN remained flat at $11.47 during mid-day trading on Friday. The stock had a trading volume of 71,109 shares, compared to its average volume of 38,451. The company has a 50 day moving average price of $11.42 and a 200-day moving average price of $11.25. Blue Ocean Acquisition has a 12 month low of $10.73 and a 12 month high of $11.70.

About Blue Ocean Acquisition

Blue Ocean Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company intends to focus within the consumer Internet sector in segments, such as online marketplaces, education and advertising technology, and direct-to-consumer e-commerce businesses in Asia, Latin America, and North America.