Short Interest in Magnum Opus Acquisition Limited (NYSE:OPA) Rises By 308.3%

Magnum Opus Acquisition Limited (NYSE:OPA – Get Rating) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 34,300 shares, an increase of 308.3% from the March 15th total of 8,400 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 217,600 shares, the short-interest ratio is currently 0.2 days.

Separately, Benchmark began coverage on shares of Magnum Opus Acquisition in a report on Tuesday, March 1st. They issued a “buy” rating and a $15.00 price objective on the stock.

Several hedge funds have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management increased its stake in shares of Magnum Opus Acquisition by 37.7% in the third quarter. Picton Mahoney Asset Management now owns 413,034 shares of the company’s stock worth $4,086,000 after buying an additional 113,034 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in Magnum Opus Acquisition in the 3rd quarter valued at about $99,000. Cohanzick Management LLC bought a new stake in shares of Magnum Opus Acquisition during the third quarter valued at approximately $2,914,000. Hsbc Holdings PLC bought a new position in Magnum Opus Acquisition in the 3rd quarter worth approximately $5,946,000. Finally, Context Advisory LLC acquired a new stake in Magnum Opus Acquisition in the 3rd quarter valued at approximately $1,484,000. 66.86% of the stock is owned by institutional investors and hedge funds.

OPA stock opened at $9.90 on Wednesday. The business’s 50 day simple moving average is $9.92. Magnum Opus Acquisition has a 52-week low of $9.56 and a 52-week high of $10.17.

About Magnum Opus Acquisition (Get Rating)

Magnum Opus Acquisition Limited, a blank check company, intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses. The company was founded in 2021 and is based in Central, Hong Kong.

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