Sagaliam Acquisition Corp. (NASDAQ:SAGA) Sees Significant Decrease in Short Interest

Sagaliam Acquisition Corp. (NASDAQ:SAGA) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,800 shares, a decrease of 25.0% from the August 15th total of 2,400 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily volume of 700 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. HRT Financial LP bought a new stake in Sagaliam Acquisition during the fourth quarter valued at about $158,000. Virtu Financial LLC purchased a new position in shares of Sagaliam Acquisition in the second quarter valued at about $162,000. Goldman Sachs Group Inc. purchased a new position in shares of Sagaliam Acquisition in the first quarter valued at about $225,000. BlackRock Inc. lifted its position in shares of Sagaliam Acquisition by 141.4% in the third quarter. BlackRock Inc. now owns 29,190 shares of the company’s stock valued at $292,000 after acquiring an additional 17,100 shares in the last quarter. Finally, EHP Funds Inc. purchased a new position in shares of Sagaliam Acquisition in the first quarter valued at about $319,000. Institutional investors own 63.24% of the company’s stock.

Sagaliam Acquisition Price Performance

Shares of NASDAQ SAGA remained flat at $11.33 during midday trading on Friday. 70 shares of the stock were exchanged, compared to its average volume of 539. Sagaliam Acquisition has a 1 year low of $9.96 and a 1 year high of $11.72. The business’s 50-day simple moving average is $11.12 and its 200-day simple moving average is $10.89.

Sagaliam Acquisition Company Profile

Sagaliam Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to identify target business in the telecommunications, media, and technology industries.