CONX Corp. (NASDAQ:CONX – Get Rating) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,160,000 shares, a growth of 143.0% from the July 15th total of 477,400 shares. Based on an average trading volume of 185,400 shares, the days-to-cover ratio is currently 6.3 days. Currently, 1.6% of the company's shares are sold short.
Hedge Funds Weigh In On CONX
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fort Baker Capital Management LP lifted its stake in shares of CONX by 4.6% during the 1st quarter. Fort Baker Capital Management LP now owns 3,899,572 shares of the company's stock worth $38,411,000 after purchasing an additional 172,916 shares during the last quarter. Glazer Capital LLC raised its stake in shares of CONX by 1.0% in the first quarter. Glazer Capital LLC now owns 2,347,174 shares of the company's stock worth $23,120,000 after purchasing an additional 23,792 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of CONX by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 1,440,472 shares of the company's stock worth $14,189,000 after purchasing an additional 60,100 shares during the last quarter. Jane Street Group LLC raised its stake in shares of CONX by 3.8% in the first quarter. Jane Street Group LLC now owns 1,101,930 shares of the company's stock worth $10,855,000 after purchasing an additional 40,334 shares during the last quarter. Finally, Rivernorth Capital Management LLC grew its holdings in CONX by 73.4% during the first quarter. Rivernorth Capital Management LLC now owns 1,004,151 shares of the company's stock worth $9,891,000 after acquiring an additional 425,000 shares during the period. Institutional investors own 73.74% of the company's stock.
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CONX Stock Performance
CONX stock traded up $0.01 during mid-day trading on Friday, hitting $9.95. The company's stock had a trading volume of 86,572 shares, compared to its average volume of 161,036. CONX has a one year low of $9.70 and a one year high of $9.96. The company has a 50 day moving average of $9.91 and a 200-day moving average of $9.87.
About CONX
(Get Rating)
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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