Sagaliam Acquisition Corp. (NASDAQ:SAGA – Get Rating) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 24,200 shares, an increase of 39.1% from the November 15th total of 17,400 shares. Based on an average trading volume of 6,000 shares, the short-interest ratio is presently 4.0 days. Approximately 0.2% of the shares of the company are sold short.
Institutional Investors Weigh In On Sagaliam Acquisition
Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new stake in Sagaliam Acquisition during the 1st quarter valued at $225,000. BlackRock Inc. lifted its stake in shares of Sagaliam Acquisition by 141.4% during the 3rd quarter. BlackRock Inc. now owns 29,190 shares of the company's stock worth $292,000 after purchasing an additional 17,100 shares during the period. EHP Funds Inc. purchased a new position in shares of Sagaliam Acquisition during the 1st quarter worth $319,000. Marshall Wace LLP purchased a new position in shares of Sagaliam Acquisition during the 3rd quarter worth $457,000. Finally, RPO LLC purchased a new position in shares of Sagaliam Acquisition during the 3rd quarter worth $583,000. Institutional investors and hedge funds own 90.25% of the company's stock.
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Sagaliam Acquisition Stock Performance
NASDAQ SAGA traded up $0.04 on Tuesday, hitting $10.14. 3,600 shares of the company's stock were exchanged, compared to its average volume of 5,769. The firm's 50-day moving average price is $10.04 and its two-hundred day moving average price is $9.99. Sagaliam Acquisition has a fifty-two week low of $9.60 and a fifty-two week high of $10.45.
Sagaliam Acquisition Company Profile
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Sagaliam Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the telecommunications, media, and technology industries. The company was incorporated in 2021 and is based in Los Angeles, California.
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