PowerUp Acquisition (NASDAQ:PWUP) Shares Up 11.3% – Here’s Why

PowerUp Acquisition Corp. (NASDAQ:PWUP)’s share price shot up 11.3% on Monday . The stock traded as high as $0.61 and last traded at $0.59. 396,739 shares were traded during trading, an increase of 3,283% from the average session volume of 11,729 shares. The stock had previously closed at $0.53.

PowerUp Acquisition Stock Performance

The company’s 50 day simple moving average is $2.89 and its 200 day simple moving average is $8.60.

Hedge Funds Weigh In On PowerUp Acquisition

An institutional investor recently bought a new position in PowerUp Acquisition stock. Harraden Circle Investments LLC bought a new stake in shares of PowerUp Acquisition Corp. (NASDAQ:PWUP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 449,783 shares of the company’s stock, valued at approximately $5,173,000. PowerUp Acquisition makes up approximately 4.7% of Harraden Circle Investments LLC’s holdings, making the stock its 8th largest holding. Harraden Circle Investments LLC owned 5.79% of PowerUp Acquisition at the end of the most recent quarter. 19.17% of the stock is owned by institutional investors.

PowerUp Acquisition Company Profile

PowerUp Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on video gaming, gaming adjacent, and metaverse businesses.