International Media Acquisition Corp. (NASDAQ:IMAQ – Get Rating) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 5,500 shares, a decline of 50.5% from the July 15th total of 11,100 shares. Based on an average trading volume of 40,600 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

International Media Acquisition Price Performance

IMAQ traded up $0.09 on Thursday, reaching $10.19. The company had a trading volume of 14,952 shares, compared to its average volume of 40,592. International Media Acquisition has a 1 year low of $9.61 and a 1 year high of $10.20. The stock has a 50-day moving average price of $10.01 and a 200-day moving average price of $9.94.

Institutional Investors Weigh In On International Media Acquisition

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. OTA Financial Group L.P. lifted its position 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 acquiring an additional 1,536 shares during the last quarter. Karpus Management Inc. raised its holdings in shares of International Media Acquisition by 0.9% in the fourth quarter. Karpus Management Inc. now owns 475,354 shares of the company's stock valued at $4,668,000 after buying an additional 4,386 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in shares of International Media Acquisition by 1.3% in the second quarter. Wolverine Asset Management LLC now owns 404,687 shares of the company's stock valued at $4,038,000 after buying an additional 5,153 shares during the last quarter. PEAK6 Investments LLC purchased a new stake in shares of International Media Acquisition in the fourth quarter valued at about $301,000. Finally, Bank of Montreal Can raised its holdings in shares of International Media Acquisition by 4.1% in the first quarter. Bank of Montreal Can now owns 1,101,596 shares of the company's stock valued at $10,917,000 after buying an additional 43,087 shares during the last quarter. 76.61% of the stock is owned by hedge funds and other institutional investors.

International Media Acquisition Company Profile

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.

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