Short Interest in International Media Acquisition Corp. (NASDAQ:IMAQ) Declines By 25.0%

International Media Acquisition Corp. (NASDAQ:IMAQ) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 300 shares, a decrease of 25.0% from the June 15th total of 400 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 1,000 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of International Media Acquisition

A hedge fund recently bought a new stake in International Media Acquisition stock. PenderFund Capital Management Ltd. acquired a new stake in International Media Acquisition Corp. (NASDAQ:IMAQ) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,448 shares of the company’s stock, valued at approximately $84,000. PenderFund Capital Management Ltd. owned about 0.10% of International Media Acquisition as of its most recent SEC filing. 25.87% of the stock is currently owned by hedge funds and other institutional investors.

International Media Acquisition Stock Performance

NASDAQ IMAQ remained flat at $11.53 during trading hours on Friday. The company had a trading volume of 38 shares, compared to its average volume of 476. International Media Acquisition has a 1 year low of $10.80 and a 1 year high of $12.51. The stock has a fifty day simple moving average of $11.54 and a 200-day simple moving average of $11.42.

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.