International Media Acquisition Corp. (NASDAQ:IMAQ – Get Rating) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 3,200 shares, a growth of 10.3% from the February 28th total of 2,900 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 6,800 shares, the days-to-cover ratio is presently 0.5 days.
International Media Acquisition Trading Up 0.3 %
Shares of International Media Acquisition stock traded up $0.03 on Friday, hitting $10.51. 16,570 shares of the company's stock were exchanged, compared to its average volume of 5,747. The company has a 50-day simple moving average of $10.46 and a 200-day simple moving average of $10.28. International Media Acquisition has a 1 year low of $9.89 and a 1 year high of $10.68.
Get International Media Acquisition alerts:Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in IMAQ. Millennium Management LLC lifted its position in shares of International Media Acquisition by 519.4% during the 2nd quarter. Millennium Management LLC now owns 899,299 shares of the company's stock valued at $8,975,000 after buying an additional 754,105 shares in the last quarter. Meteora Capital LLC lifted its stake in shares of International Media Acquisition by 150.5% during the 4th quarter. Meteora Capital LLC now owns 298,722 shares of the company's stock valued at $3,047,000 after buying an additional 179,466 shares in the last quarter. Mizuho Securities USA LLC purchased a new position in shares of International Media Acquisition during the 4th quarter valued at $1,275,000. Mint Tower Capital Management B.V. purchased a new position in shares of International Media Acquisition during the 3rd quarter valued at $769,000. Finally, Centiva Capital LP lifted its stake in shares of International Media Acquisition by 15.2% during the 2nd quarter. Centiva Capital LP now owns 429,359 shares of the company's stock valued at $4,285,000 after buying an additional 56,762 shares in the last quarter. 10.33% of the stock is owned by hedge funds and other institutional investors.
About International Media Acquisition
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International Media Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the media and entertainment sector. The company was incorporated in 2021 and is based in North Brunswick, New Jersey.
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