Arko Corp. (NASDAQ:ARKOW – Get Free Report) was the target of a large drop in short interest in August. As of August 15th, there was short interest totalling 10,000 shares, a drop of 46.2% from the July 31st total of 18,600 shares. Based on an average daily volume of 7,000 shares, the days-to-cover ratio is presently 1.4 days.
Hedge Funds Weigh In On Arko
An institutional investor recently bought a new position in Arko stock. Aristeia Capital LLC purchased a new position in shares of Arko Corp. (NASDAQ:ARKOW – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 553,681 shares of the company’s stock, valued at approximately $952,000.
Arko Trading Up 7.0 %
ARKOW stock opened at $1.37 on Friday. The firm has a 50 day moving average of $1.40 and a 200-day moving average of $1.40. Arko has a 12-month low of $1.00 and a 12-month high of $2.44.
About Arko
Arko Corp. operates convenience stores in the United States. It operates through Retail, Wholesale, Fleet Fueling, and GPM Petroleum segments. The Retail segment engages in the sale of fuel and merchandise to retail consumers. Its Wholesale segment supplies fuel to third-party dealers and consignment agents.
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