Black Mountain Acquisition (NYSE:BMAC) Stock Price Down 0.3%

Black Mountain Acquisition Corp. (NYSE:BMAC) shares fell 0.3% during mid-day trading on Friday . The company traded as low as $10.64 and last traded at $10.64. 112 shares changed hands during trading, a decline of 100% from the average session volume of 83,648 shares. The stock had previously closed at $10.67.

Black Mountain Acquisition Price Performance

The company’s fifty day moving average is $10.67 and its 200 day moving average is $10.63.

Hedge Funds Weigh In On Black Mountain Acquisition

A number of hedge funds have recently made changes to their positions in BMAC. Cowen AND Company LLC purchased a new stake in Black Mountain Acquisition during the 3rd quarter worth $4,001,000. Boothbay Fund Management LLC purchased a new stake in shares of Black Mountain Acquisition in the first quarter worth about $3,769,000. Atlas Merchant Capital LLC grew its stake in shares of Black Mountain Acquisition by 292.8% in the first quarter. Atlas Merchant Capital LLC now owns 268,300 shares of the company’s stock valued at $2,788,000 after buying an additional 200,000 shares in the last quarter. Cowen Investment Management LLC raised its holdings in shares of Black Mountain Acquisition by 125.0% during the 1st quarter. Cowen Investment Management LLC now owns 900,000 shares of the company’s stock valued at $9,351,000 after buying an additional 500,000 shares during the period. Finally, Exos TFP Holdings LLC lifted its position in Black Mountain Acquisition by 89.5% during the 1st quarter. Exos TFP Holdings LLC now owns 143,491 shares of the company’s stock worth $1,491,000 after acquiring an additional 67,766 shares in the last quarter. Hedge funds and other institutional investors own 98.52% of the company’s stock.

About Black Mountain Acquisition

Black Mountain Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Black Mountain Acquisition Corp. was incorporated in 2021 and is based in Fort Worth, Texas.