International Media Acquisition Corp. (NASDAQ:IMAQ – Get Free Report) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,800 shares, an increase of 5.9% from the March 31st total of 1,700 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 900 shares, the short-interest ratio is currently 2.0 days.
Hedge Funds Weigh In On International Media Acquisition
Institutional investors have recently bought and sold shares of the company. Mizuho Securities USA LLC raised its stake in shares of International Media Acquisition by 18.5% in the third quarter. Mizuho Securities USA LLC now owns 149,362 shares of the company’s stock valued at $1,673,000 after buying an additional 23,265 shares during the period. Meteora Capital LLC raised its stake in International Media Acquisition by 9.9% in the 3rd quarter. Meteora Capital LLC now owns 266,401 shares of the company’s stock valued at $3,026,000 after acquiring an additional 23,966 shares during the period. Finally, PenderFund Capital Management Ltd. bought a new stake in International Media Acquisition in the 4th quarter valued at about $84,000. Hedge funds and other institutional investors own 25.87% of the company’s stock.
International Media Acquisition Price Performance
International Media Acquisition stock opened at $11.45 on Thursday. The firm has a 50 day moving average price of $11.36 and a 200-day moving average price of $11.31. International Media Acquisition has a twelve month low of $10.55 and a twelve month high of $11.52.
About International Media Acquisition
International Media Acquisition Corp. does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the media and entertainment sector. International Media Acquisition Corp.
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