Wolverine Asset Management LLC Lowers Stake in Arrowroot Acquisition Corp. (NASDAQ:ARRW)

Wolverine Asset Management LLC lessened its position in shares of Arrowroot Acquisition Corp. (NASDAQ:ARRW) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 435,998 shares of the company’s stock after selling 3,000 shares during the period. Wolverine Asset Management LLC owned approximately 3.75% of Arrowroot Acquisition worth $4,565,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its position in shares of Arrowroot Acquisition by 14.1% in the third quarter. Deutsche Bank AG now owns 55,251 shares of the company’s stock worth $578,000 after buying an additional 6,847 shares during the period. Periscope Capital Inc. boosted its position in shares of Arrowroot Acquisition by 19.2% in the third quarter. Periscope Capital Inc. now owns 212,181 shares of the company’s stock worth $2,222,000 after buying an additional 34,145 shares during the period. Finally, Meteora Capital LLC boosted its position in shares of Arrowroot Acquisition by 10.6% in the third quarter. Meteora Capital LLC now owns 312,664 shares of the company’s stock worth $3,274,000 after buying an additional 29,931 shares during the period. Hedge funds and other institutional investors own 32.94% of the company’s stock.

Arrowroot Acquisition Price Performance

Shares of NASDAQ ARRW remained flat at $10.00 on Wednesday. The stock had a trading volume of 132,897 shares, compared to its average volume of 25,675. Arrowroot Acquisition Corp. has a 52 week low of $8.46 and a 52 week high of $20.00. The company has a 50-day moving average price of $11.15 and a 200 day moving average price of $10.70.

Arrowroot Acquisition Profile

Arrowroot Acquisition Corp. does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company intends to identify and acquire a business focusing on the enterprise software sector.