AltC Acquisition Target of Unusually High Options Trading (NYSE:ALCC)

AltC Acquisition Corp. (NYSE:ALCC) was the target of unusually large options trading on Friday. Traders purchased 11,539 put options on the stock. This represents an increase of 315% compared to the typical daily volume of 2,780 put options.

AltC Acquisition Stock Down 1.5 %

Shares of AltC Acquisition stock traded down $0.20 on Friday, hitting $12.80. The stock had a trading volume of 1,590,565 shares, compared to its average volume of 497,001. The stock’s 50-day simple moving average is $11.70 and its two-hundred day simple moving average is $10.92. AltC Acquisition has a one year low of $10.24 and a one year high of $17.49.

Institutional Investors Weigh In On AltC Acquisition

A number of large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC increased its stake in shares of AltC Acquisition by 24.3% during the fourth quarter. FNY Investment Advisers LLC now owns 87,250 shares of the company’s stock valued at $921,000 after buying an additional 17,049 shares during the period. Cowen AND Company LLC purchased a new position in AltC Acquisition during the 4th quarter valued at $896,000. Schonfeld Strategic Advisors LLC bought a new position in AltC Acquisition in the 3rd quarter worth $931,000. Spartan Fund Management Inc. purchased a new stake in shares of AltC Acquisition in the 3rd quarter worth about $1,258,000. Finally, Hsbc Holdings PLC boosted its stake in shares of AltC Acquisition by 40.6% during the 3rd quarter. Hsbc Holdings PLC now owns 492,187 shares of the company’s stock valued at $5,092,000 after purchasing an additional 142,188 shares in the last quarter. Institutional investors own 85.03% of the company’s stock.

AltC Acquisition Company Profile

AltC Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other business combination with one or more businesses. The company was formerly known as Churchill Capital Corp VIII and changed its name to AltC Acquisition Corp.