International Media Acquisition Corp. (NASDAQ:IMAQ – Get Rating) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 6,100 shares, an increase of 32.6% from the August 31st total of 4,600 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 18,800 shares, the short-interest ratio is presently 0.3 days.
International Media Acquisition Price Performance
International Media Acquisition stock remained flat at $10.11 during midday trading on Friday. The company had a trading volume of 651 shares, compared to its average volume of 5,428. International Media Acquisition has a 12-month low of $9.68 and a 12-month high of $10.20. The stock's fifty day simple moving average is $10.11 and its two-hundred day simple moving average is $10.00.
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Institutional Trading of International Media Acquisition
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. OTA Financial Group L.P. grew its holdings in International Media Acquisition by 6.5% in the first quarter. OTA Financial Group L.P. now owns 25,024 shares of the company's stock valued at $247,000 after purchasing an additional 1,536 shares during the period. Arena Investors LP acquired a new stake in International Media Acquisition in the first quarter valued at approximately $498,000. Glazer Capital LLC acquired a new stake in International Media Acquisition in the first quarter valued at approximately $554,000. Blackstone Inc. acquired a new stake in International Media Acquisition in the first quarter valued at approximately $852,000. Finally, Dark Forest Capital Management LP grew its holdings in International Media Acquisition by 17.5% in the second quarter. Dark Forest Capital Management LP now owns 117,953 shares of the company's stock valued at $1,177,000 after purchasing an additional 17,580 shares during the period.
International Media Acquisition Company Profile
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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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