Rising Above Average: Americas Technology Acquisition Corp.’s Stock Surges on Hedge Fund Increase in Stake

Americas Technology Acquisition Corp. (NYSEARCA:ATA) saw its shares rise above their 50-day moving average on Monday, trading at $10.59. The stock’s 200-day moving average is also $10.59. The trading volume was at 200 shares.

A hedge fund, Glazer Capital LLC, recently increased its stake in Americas Technology Acquisition Corp. by an impressive 458.1% in the first quarter. They now own about 4.48% of the company’s stock, worth $6,673,000. Overall, institutional investors and hedge funds hold a significant portion of the stock, with 55.60% ownership in total.

The company does not have significant operations but is focused on acquiring assets and businesses in the technology, media, and telecommunications sector through mergers, share exchanges or other similar transactions. Americas Technology Acquisition Corp was founded in 2020 and is headquartered in Dallas, Texas. To stay updated on the latest news and analyst ratings for Americas Technology Acquisition Corp., sign up for their email newsletter on MarketBeat.com