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

International Media Acquisition Corp. (NASDAQ:IMAQGet Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,900 shares, an increase of 5.6% from the May 15th total of 1,800 shares. Based on an average daily volume of 1,100 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.1% of the company’s stock are short sold.

International Media Acquisition Price Performance

NASDAQ:IMAQ remained flat at $11.75 during midday trading on Tuesday. 380 shares of the company traded hands, compared to its average volume of 913. International Media Acquisition has a 12-month low of $10.67 and a 12-month high of $12.51. The stock has a fifty day moving average of $11.51 and a two-hundred day moving average of $11.38.

Institutional Investors Weigh In On International Media Acquisition

A hedge fund recently bought a new stake in International Media Acquisition stock. PenderFund Capital Management Ltd. purchased a new position in shares of International Media Acquisition Corp. (NASDAQ:IMAQFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,448 shares of the company’s stock, valued at approximately $84,000. PenderFund Capital Management Ltd. owned approximately 0.10% of International Media Acquisition as of its most recent SEC filing. Institutional investors own 25.87% of the company’s stock.

About International Media Acquisition

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for International Media Acquisition Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Media Acquisition and related companies with MarketBeat.com's FREE daily email newsletter.