Sagaliam Acquisition Corp. (NASDAQ:SAGA – Get Rating) was the target of a large drop in short interest in the month of December. As of December 30th, there was short interest totalling 700 shares, a drop of 79.4% from the December 15th total of 3,400 shares. Based on an average daily trading volume, of 2,600 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the company's shares are short sold.
Hedge Funds Weigh In On Sagaliam Acquisition
Hedge funds have recently modified their holdings of the stock. Polar Asset Management Partners Inc. grew its holdings in Sagaliam Acquisition by 10.1% during the third quarter. Polar Asset Management Partners Inc. now owns 1,090,000 shares of the company's stock worth $10,889,000 after purchasing an additional 100,000 shares during the period. Wolverine Asset Management LLC grew its holdings in Sagaliam Acquisition by 21.8% during the second quarter. Wolverine Asset Management LLC now owns 562,482 shares of the company's stock worth $5,562,000 after purchasing an additional 100,649 shares during the period. Millennium Management LLC grew its holdings 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 period. Spring Creek Capital LLC bought a new position in Sagaliam Acquisition during the first quarter worth about $3,688,000. Finally, Dark Forest Capital Management LP boosted its holdings in shares of 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 acquiring an additional 292,344 shares during the period. Institutional investors own 74.11% of the company's stock.
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Sagaliam Acquisition Stock Performance
Sagaliam Acquisition stock remained flat at $10.40 during mid-day trading on Thursday. The company had a trading volume of 101 shares, compared to its average volume of 1,242. The company has a fifty day moving average price of $10.21 and a 200 day moving average price of $10.06. Sagaliam Acquisition has a twelve month low of $9.60 and a twelve month high of $10.99.
Sagaliam Acquisition Company Profile
(Get Rating)
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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