Black Mountain Acquisition Corp. (NYSE:BMAC – Get Rating) saw a large decline in short interest in December. As of December 30th, there was short interest totalling 1,800 shares, a decline of 64.0% from the December 15th total of 5,000 shares. Approximately 0.0% of the company's shares are short sold. Based on an average trading volume of 35,500 shares, the days-to-cover ratio is presently 0.1 days.
Black Mountain Acquisition Stock Performance
Shares of NYSE:BMAC traded up $0.01 during mid-day trading on Friday, hitting $10.27. The company had a trading volume of 100 shares, compared to its average volume of 32,008. The firm has a fifty day moving average price of $10.15 and a 200 day moving average price of $10.06. Black Mountain Acquisition has a one year low of $9.83 and a one year high of $10.28.
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Institutional Trading of Black Mountain Acquisition
A number of hedge funds and other institutional investors have recently bought and sold shares of BMAC. Bank of Montreal Can increased its stake in Black Mountain Acquisition by 81.1% during the 2nd quarter. Bank of Montreal Can now owns 1,720,411 shares of the company's stock valued at $17,204,000 after purchasing an additional 770,411 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Black Mountain Acquisition during the 1st quarter worth $2,433,000. Millennium Management LLC purchased a new position in Black Mountain Acquisition during the 2nd quarter worth $1,062,000. Mint Tower Capital Management B.V. purchased a new position in Black Mountain Acquisition during the 3rd quarter worth $685,000. Finally, Royal Bank of Canada boosted its holdings in Black Mountain Acquisition by 1,122.5% during the 1st quarter. Royal Bank of Canada now owns 59,901 shares of the company's stock worth $595,000 after acquiring an additional 55,001 shares during the last quarter. Institutional investors own 70.69% of the company's stock.
Black Mountain Acquisition Company Profile
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Black Mountain Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Fort Worth, Texas.
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