Music Acquisition (NYSE:TMAC) Shares Down 0.1%

The Music Acquisition Co. (NYSE:TMACGet Rating)’s stock price fell 0.1% during trading on Friday . The company traded as low as $9.84 and last traded at $9.84. 26,956 shares traded hands during trading, a decline of 67% from the average session volume of 82,430 shares. The stock had previously closed at $9.85.

Music Acquisition Stock Performance

The stock has a 50-day moving average price of $9.81 and a 200 day moving average price of $9.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TMAC. Saba Capital Management L.P. lifted its stake in Music Acquisition by 4.4% in the 4th quarter. Saba Capital Management L.P. now owns 442,345 shares of the company’s stock valued at $4,317,000 after buying an additional 18,633 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Music Acquisition in the 1st quarter valued at about $488,000. Basso Capital Management L.P. lifted its stake in Music Acquisition by 47.6% in the 1st quarter. Basso Capital Management L.P. now owns 11,773 shares of the company’s stock valued at $115,000 after buying an additional 3,797 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Music Acquisition in the 1st quarter valued at about $230,000. Finally, Berkley W R Corp lifted its stake in Music Acquisition by 19.8% in the 1st quarter. Berkley W R Corp now owns 67,913 shares of the company’s stock valued at $662,000 after buying an additional 11,240 shares in the last quarter. 97.66% of the stock is owned by hedge funds and other institutional investors.

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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