International Media Acquisition Corp. (NASDAQ:IMAQ) Sees Large Growth in Short Interest

International Media Acquisition Corp. (NASDAQ:IMAQ) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,800 shares, an increase of 5.9% from the March 31st total of 1,700 shares. Based on an average daily trading volume, of 900 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Trading of International Media Acquisition

Institutional investors have recently modified their holdings of the stock. Meteora Capital LLC grew its stake in International Media Acquisition by 9.9% during the 3rd quarter. Meteora Capital LLC now owns 266,401 shares of the company’s stock valued at $3,026,000 after acquiring an additional 23,966 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of International Media Acquisition by 18.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 149,362 shares of the company’s stock worth $1,673,000 after acquiring an additional 23,265 shares during the last quarter. Finally, PenderFund Capital Management Ltd. acquired a new position in shares of International Media Acquisition in the 4th quarter worth approximately $84,000. Institutional investors and hedge funds own 25.87% of the company’s stock.

International Media Acquisition Stock Performance

IMAQ stock opened at $11.45 on Friday. The firm’s fifty day moving average is $11.36 and its 200 day moving average is $11.31. International Media Acquisition has a one year low of $10.55 and a one 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.