Newbury Street Acquisition (NASDAQ:NBST) Stock Price Down 0.3% – Here’s Why

Shares of Newbury Street Acquisition Co. (NASDAQ:NBST) were down 0.3% on Wednesday . The stock traded as low as $10.60 and last traded at $10.69. Approximately 4,000 shares traded hands during trading, an increase of 5,417% from the average daily volume of 73 shares. The stock had previously closed at $10.72.

Newbury Street Acquisition Stock Performance

The company has a fifty day simple moving average of $10.92 and a two-hundred day simple moving average of $10.89.

Institutional Trading of Newbury Street Acquisition

An institutional investor recently raised its position in Newbury Street Acquisition stock. Clear Street LLC boosted its holdings in shares of Newbury Street Acquisition Co. (NASDAQ:NBST) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,425 shares of the company’s stock after buying an additional 4,390 shares during the quarter. Clear Street LLC owned approximately 1.58% of Newbury Street Acquisition worth $857,000 at the end of the most recent reporting period. 35.91% of the stock is currently owned by hedge funds and other institutional investors.

Newbury Street Acquisition Company Profile

Newbury Street Acquisition Corporation does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on technology business in the consumer internet or media space, including sports and entertainment verticals.