RMG Acquisition Corp. III (NASDAQ:RMGC) Sees Significant Drop in Short Interest

RMG Acquisition Corp. III (NASDAQ:RMGCGet Rating) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 23,500 shares, a decline of 53.0% from the March 15th total of 50,000 shares. Based on an average daily trading volume, of 60,700 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the shares of the company are sold short.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PenderFund Capital Management Ltd. lifted its position in RMG Acquisition Corp. III by 162.5% during the fourth quarter. PenderFund Capital Management Ltd. now owns 2,100 shares of the company’s stock valued at $26,000 after purchasing an additional 1,300 shares during the period. Magnetar Financial LLC acquired a new position in RMG Acquisition Corp. III during the third quarter valued at $100,000. Geode Capital Management LLC lifted its position in RMG Acquisition Corp. III by 40.0% during the third quarter. Geode Capital Management LLC now owns 18,418 shares of the company’s stock valued at $179,000 after purchasing an additional 5,258 shares during the period. Qube Research & Technologies Ltd acquired a new position in RMG Acquisition Corp. III during the fourth quarter valued at $188,000. Finally, Easterly Investment Partners LLC lifted its position in RMG Acquisition Corp. III by 24.6% during the third quarter. Easterly Investment Partners LLC now owns 20,000 shares of the company’s stock valued at $195,000 after purchasing an additional 3,950 shares during the period. Institutional investors own 56.20% of the company’s stock.

NASDAQ:RMGC opened at $9.83 on Thursday. RMG Acquisition Corp. III has a 12 month low of $9.58 and a 12 month high of $10.09. The firm has a fifty day simple moving average of $9.77 and a 200-day simple moving average of $9.76.

About RMG Acquisition Corp. III (Get Rating)

RMG Acquisition Corp. III focuses on effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination with one or more businesses. The company was founded in 2020 and is based in New York, New York.

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