Southport Acquisition Co. (NYSE:PORT – Get Rating) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 4,500 shares, an increase of 650.0% from the February 13th total of 600 shares. Based on an average daily trading volume, of 58,200 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company's stock are sold short.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Meteora Capital LLC bought a new stake in Southport Acquisition in the 4th quarter valued at $323,000. Dark Forest Capital Management LP bought a new position in shares of Southport Acquisition during the 4th quarter worth about $509,000. Elequin Securities LLC bought a new position in shares of Southport Acquisition during the 4th quarter worth about $61,000. Cantor Fitzgerald L. P. lifted its holdings in shares of Southport Acquisition by 63.4% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 322,770 shares of the company's stock worth $3,244,000 after acquiring an additional 125,200 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Southport Acquisition during the 1st quarter worth about $5,365,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.
Get Southport Acquisition alerts:Southport Acquisition Stock Performance
Shares of PORT traded down $0.02 during mid-day trading on Friday, hitting $10.33. 17,629 shares of the company's stock were exchanged, compared to its average volume of 75,424. The firm has a fifty day moving average of $10.27 and a two-hundred day moving average of $10.12. Southport Acquisition has a twelve month low of $9.85 and a twelve month high of $10.42.
About Southport Acquisition
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Southport Acquisition Corporation does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to identify business opportunities in the field of financial software space with a focus on mortgage and real estate verticals.
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