Short Interest in The Music Acquisition Co. (NYSE:TMAC) Drops By 77.3%

The Music Acquisition Co. (NYSE:TMACGet Rating) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 1,000 shares, a drop of 77.3% from the March 31st total of 4,400 shares. Based on an average daily trading volume, of 49,000 shares, the short-interest ratio is presently 0.0 days.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Omni Partners US LLC lifted its position in Music Acquisition by 3.1% in the third quarter. Omni Partners US LLC now owns 73,715 shares of the company’s stock valued at $717,000 after buying an additional 2,225 shares during the last quarter. Basso Capital Management L.P. increased its stake in Music Acquisition by 38.7% in the third quarter. Basso Capital Management L.P. now owns 7,976 shares of the company’s stock valued at $78,000 after purchasing an additional 2,226 shares during the last quarter. Athanor Capital LP increased its stake in Music Acquisition by 13.3% in the third quarter. Athanor Capital LP now owns 23,341 shares of the company’s stock valued at $227,000 after purchasing an additional 2,741 shares during the last quarter. Berkley W R Corp increased its stake in Music Acquisition by 15.4% in the third quarter. Berkley W R Corp now owns 56,673 shares of the company’s stock valued at $551,000 after purchasing an additional 7,547 shares during the last quarter. Finally, Saba Capital Management L.P. boosted its holdings in shares of Music Acquisition by 4.4% in the fourth quarter. Saba Capital Management L.P. now owns 442,345 shares of the company’s stock valued at $4,317,000 after acquiring an additional 18,633 shares during the period. 83.76% of the stock is currently owned by institutional investors.

TMAC stock opened at $9.80 on Thursday. Music Acquisition has a 52 week low of $9.60 and a 52 week high of $9.95. The firm has a 50 day moving average of $9.77 and a 200 day moving average of $9.75.

About Music Acquisition (Get Rating)

The Music Acquisition Corporation does not have significant operations. It intends on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses in the music sector. The company was incorporated in 2020 and is based in Hollywood, California.

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