Bowen Acquisition (NASDAQ:BOWN) Shares Down 9.9% – Should You Sell?

Bowen Acquisition Corp (NASDAQ:BOWN) shares fell 9.9% during mid-day trading on Friday . The stock traded as low as $3.93 and last traded at $3.93. 4,617 shares were traded during mid-day trading, a decline of 83% from the average session volume of 27,586 shares. The stock had previously closed at $4.36.

Bowen Acquisition Price Performance

The company has a 50 day simple moving average of $5.52 and a 200-day simple moving average of $8.98.

Institutional Trading of Bowen Acquisition

Hedge funds and other institutional investors have recently bought and sold shares of the company. HGC Investment Management Inc. purchased a new stake in shares of Bowen Acquisition during the third quarter valued at approximately $4,323,000. Quarry LP purchased a new stake in shares of Bowen Acquisition during the third quarter valued at approximately $915,000. Wolverine Asset Management LLC boosted its stake in shares of Bowen Acquisition by 66.8% during the fourth quarter. Wolverine Asset Management LLC now owns 468,382 shares of the company’s stock valued at $5,115,000 after purchasing an additional 187,661 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of Bowen Acquisition during the fourth quarter valued at approximately $1,368,000. Finally, Virtu Financial LLC purchased a new stake in shares of Bowen Acquisition during the fourth quarter valued at approximately $798,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About Bowen Acquisition