The Music Acquisition Co. (NYSE:TMAC) Sees Large Growth in Short Interest

The Music Acquisition Co. (NYSE:TMACGet Rating) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 3,500 shares, an increase of 250.0% from the April 15th total of 1,000 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 43,500 shares, the short-interest ratio is currently 0.1 days.

Music Acquisition stock opened at $9.78 on Thursday. The company’s 50-day moving average price is $9.78 and its 200-day moving average price is $9.75. Music Acquisition has a twelve month low of $9.60 and a twelve month high of $9.95.

Institutional investors have recently bought and sold shares of the company. Athanor Capital LP increased its holdings in shares of Music Acquisition by 13.3% in the 3rd quarter. Athanor Capital LP now owns 23,341 shares of the company’s stock worth $227,000 after buying an additional 2,741 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Music Acquisition in the 3rd quarter worth about $438,000. Berkley W R Corp boosted its stake in shares of Music Acquisition by 15.4% during the 3rd quarter. Berkley W R Corp now owns 56,673 shares of the company’s stock worth $551,000 after purchasing an additional 7,547 shares during the period. Omni Event Management Ltd purchased a new position in shares of Music Acquisition during the 4th quarter worth about $659,000. Finally, Cantor Fitzgerald Investment Adviser L.P. purchased a new position in shares of Music Acquisition during the 4th quarter worth about $700,000. Hedge funds and other institutional investors own 97.66% of the company’s stock.

Music Acquisition Company Profile (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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