CONX Corp. (NASDAQ:CONX – Get Rating) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 492,400 shares, a decrease of 59.3% from the August 15th total of 1,210,000 shares. Based on an average daily trading volume, of 167,100 shares, the short-interest ratio is currently 2.9 days. Approximately 0.7% of the company's stock are sold short.

CONX Price Performance

NASDAQ:CONX remained flat at $9.97 during midday trading on Wednesday. 2,237 shares of the company traded hands, compared to its average volume of 162,778. CONX has a 12-month low of $9.76 and a 12-month high of $9.98. The stock has a fifty day moving average of $9.94 and a two-hundred day moving average of $9.89.

Hedge Funds Weigh In On CONX

Hedge funds have recently made changes to their positions in the company. Fort Baker Capital Management LP grew its position in shares of CONX by 4.6% during the first quarter. Fort Baker Capital Management LP now owns 3,899,572 shares of the company's stock worth $38,411,000 after acquiring an additional 172,916 shares during the last quarter. Millennium Management LLC grew its position in CONX by 5.3% during the 2nd quarter. Millennium Management LLC now owns 3,096,406 shares of the company's stock worth $30,608,000 after purchasing an additional 156,971 shares during the last quarter. Glazer Capital LLC increased its stake in CONX by 1.0% in the first quarter. Glazer Capital LLC now owns 2,347,174 shares of the company's stock valued at $23,120,000 after purchasing an additional 23,792 shares during the period. Jane Street Group LLC raised its holdings in shares of CONX by 34.2% in the second quarter. Jane Street Group LLC now owns 1,478,310 shares of the company's stock valued at $14,613,000 after buying an additional 376,380 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of CONX by 4.4% during the first quarter. JPMorgan Chase & Co. now owns 1,440,472 shares of the company's stock worth $14,189,000 after buying an additional 60,100 shares during the period. Hedge funds and other institutional investors own 71.84% of the company's stock.

CONX Company Profile

CONX Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to focus its search on identifying a prospective target operating in the technology, media, and telecommunications industries, including wireless communications industry.

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