International Media Acquisition Corp. (NASDAQ:IMAQ – Get Rating) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 2,900 shares, a decline of 79.9% from the February 13th total of 14,400 shares. Based on an average daily volume of 5,800 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the shares of the company are sold short.

Hedge Funds Weigh In On International Media Acquisition

Several hedge funds have recently bought and sold shares of IMAQ. UBS Group AG grew its stake in International Media Acquisition by 119.5% during the fourth quarter. UBS Group AG now owns 3,971 shares of the company's stock valued at $41,000 after acquiring an additional 2,162 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new position in International Media Acquisition during the third quarter valued at approximately $41,000. Clear Street LLC purchased a new position in International Media Acquisition during the third quarter valued at approximately $234,000. Glazer Capital LLC purchased a new position in International Media Acquisition during the first quarter valued at approximately $554,000. Finally, Mint Tower Capital Management B.V. purchased a new position in International Media Acquisition during the third quarter valued at approximately $769,000. Hedge funds and other institutional investors own 10.33% of the company's stock.

International Media Acquisition Price Performance

Shares of NASDAQ IMAQ remained flat at $10.47 during midday trading on Friday. 13,452 shares of the stock traded hands, compared to its average volume of 8,482. The company's 50 day simple moving average is $10.39 and its two-hundred day simple moving average is $10.25. International Media Acquisition has a one year low of $9.88 and a one year high of $10.68.

About International Media Acquisition

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International Media Acquisition Corp. does not have significant operations. It 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. The company was incorporated in 2021 and is based in North Brunswick, New Jersey.

Further Reading

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