International Media Acquisition Corp. (NASDAQ:IMAQ) Sees Large Growth in Short Interest

International Media Acquisition Corp. (NASDAQ:IMAQGet Free Report) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,800 shares, a growth of 12.5% from the February 29th total of 1,600 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 1,200 shares, the days-to-cover ratio is currently 1.5 days.

International Media Acquisition Trading Up 0.2 %

Shares of NASDAQ:IMAQ opened at $11.32 on Tuesday. The company’s fifty day moving average is $11.34 and its 200 day moving average is $11.29. International Media Acquisition has a 52 week low of $10.46 and a 52 week high of $11.52.

Hedge Funds Weigh In On International Media Acquisition

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG boosted its stake in shares of 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 purchasing an additional 2,162 shares during the period. PenderFund Capital Management Ltd. purchased a new stake in International Media Acquisition during the 4th quarter valued at $84,000. Glazer Capital LLC bought a new stake in International Media Acquisition in the 1st quarter worth $554,000. Cubist Systematic Strategies LLC purchased a new position in shares of International Media Acquisition in the first quarter valued at about $669,000. Finally, Caas Capital Management LP raised its stake in shares of International Media Acquisition by 80.2% during the second quarter. Caas Capital Management LP now owns 62,465 shares of the company’s stock valued at $672,000 after acquiring an additional 27,799 shares during the last quarter. 25.87% of the stock is currently owned by institutional investors.

About International Media Acquisition

(Get Free Report)

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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