International Media Acquisition Corp. (NASDAQ:IMAQ) Short Interest Down 5.6% in March

International Media Acquisition Corp. (NASDAQ:IMAQ) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,700 shares, a decline of 5.6% from the March 15th total of 1,800 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 900 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. UBS Group AG boosted its position in shares of International Media Acquisition by 119.5% during the fourth quarter. UBS Group AG now owns 3,971 shares of the company’s stock valued at $41,000 after purchasing an additional 2,162 shares in the last quarter. PenderFund Capital Management Ltd. purchased a new position in International Media Acquisition during the fourth quarter valued at $84,000. Glazer Capital LLC bought a new stake in shares of International Media Acquisition during the 1st quarter valued at $554,000. Cubist Systematic Strategies LLC purchased a new stake in shares of International Media Acquisition in the 1st quarter worth about $669,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of International Media Acquisition by 50.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 131,314 shares of the company’s stock worth $1,301,000 after acquiring an additional 44,032 shares in the last quarter. Institutional investors own 25.87% of the company’s stock.

International Media Acquisition Price Performance

IMAQ stock opened at $11.40 on Tuesday. The firm has a 50-day moving average of $11.35 and a 200 day moving average of $11.30. International Media Acquisition has a 1 year low of $10.47 and a 1 year high of $11.52.

International Media Acquisition Company Profile

International Media Acquisition Corp. does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the media and entertainment sector. International Media Acquisition Corp.