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

International Media Acquisition Corp. (NASDAQ:IMAQ) was the recipient of a significant drop in short interest in the month of 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. Based on an average daily trading volume, of 900 shares, the short-interest ratio is presently 1.9 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Trading of International Media Acquisition

A number of institutional investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its stake 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 worth $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 in the 4th quarter worth approximately $84,000. Glazer Capital LLC purchased a new position in International Media Acquisition in the 1st quarter worth approximately $554,000. Cubist Systematic Strategies LLC purchased a new stake in shares of International Media Acquisition during the first quarter valued at approximately $669,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of International Media Acquisition by 50.4% during the first 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 in the last quarter. 25.87% of the stock is owned by hedge funds and other institutional investors.

International Media Acquisition Trading Up 0.2 %

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

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.