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

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

Hedge Funds Weigh In On International Media Acquisition

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG boosted its holdings in shares of International Media Acquisition by 119.5% during the 4th quarter. UBS Group AG now owns 3,971 shares of the company’s stock worth $41,000 after buying an additional 2,162 shares during the period. PenderFund Capital Management Ltd. bought a new stake in International Media Acquisition during the fourth quarter valued at about $84,000. Glazer Capital LLC acquired a new stake in shares of International Media Acquisition in the first quarter valued at about $554,000. Cubist Systematic Strategies LLC bought a new position in shares of International Media Acquisition in the first quarter worth about $669,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of International Media Acquisition by 50.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 131,314 shares of the company’s stock worth $1,301,000 after purchasing an additional 44,032 shares during the last quarter. Institutional investors and hedge funds own 25.87% of the company’s stock.

International Media Acquisition Trading Up 0.2 %

IMAQ opened at $11.42 on Thursday. The stock has a 50-day moving average of $11.35 and a 200-day moving average of $11.30. International Media Acquisition has a 52-week low of $10.50 and a 52-week high of $11.52.

About International Media Acquisition

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.