Abundance Bets Big on PureCycle, Adding 6.7 Million Shares of the Heavily Shorted Stock

nasdaq
2026.04.23 13:25
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Abundance Wealth Counselors has increased its stake in PureCycle Technologies by acquiring 6,722,837 shares for an estimated $55.99 million. This acquisition raised the quarter-end position value by $28.72 million, with PureCycle now representing 6.35% of the fund's assets under management. Despite a 12.4% increase in share price over the past year, PureCycle has a high short interest of 40.15%, indicating potential volatility. The company focuses on producing high-purity recycled polypropylene and has secured a significant grant for its recycling project in Belgium, although it remains unprofitable.