Sagaliam Acquisition Corp. (NASDAQ:SAGA – Get Rating) was the target of a significant 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. Approximately 0.2% of the company's shares are short sold. Based on an average daily trading volume, of 6,000 shares, the short-interest ratio is currently 4.0 days.
Sagaliam Acquisition Stock Performance
Shares of NASDAQ:SAGA traded up $0.06 during trading on Thursday, reaching $10.20. The stock had a trading volume of 1,850 shares, compared to its average volume of 32,259. The business has a fifty day moving average price of $10.05 and a 200-day moving average price of $9.99. Sagaliam Acquisition has a fifty-two week low of $9.60 and a fifty-two week high of $10.45.
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Hedge Funds Weigh In On Sagaliam Acquisition
A number of institutional investors have recently modified their holdings of SAGA. Saba Capital Management L.P. acquired a new position in shares of Sagaliam Acquisition in the first quarter valued at approximately $11,027,000. Polar Asset Management Partners Inc. acquired a new position in Sagaliam Acquisition during the first quarter worth approximately $9,791,000. Millennium Management LLC increased its position in Sagaliam Acquisition by 1,199.5% during the second quarter. Millennium Management LLC now owns 534,630 shares of the company's stock worth $5,287,000 after purchasing an additional 493,490 shares during the last quarter. Spring Creek Capital LLC acquired a new position in Sagaliam Acquisition during the first quarter worth approximately $3,688,000. Finally, Dark Forest Capital Management LP increased its position in Sagaliam Acquisition by 743.2% during the second quarter. Dark Forest Capital Management LP now owns 331,678 shares of the company's stock worth $3,280,000 after purchasing an additional 292,344 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.
About Sagaliam Acquisition
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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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