Short Interest in International Media Acquisition Corp. (NASDAQ:IMAQ) Rises By 5.9%

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

International Media Acquisition Stock Performance

Shares of NASDAQ IMAQ opened at $11.41 on Wednesday. International Media Acquisition has a 52 week low of $10.55 and a 52 week high of $11.52. The stock’s fifty day moving average is $11.36 and its 200 day moving average is $11.31.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. PenderFund Capital Management Ltd. acquired a new stake in International Media Acquisition in the fourth quarter valued at about $84,000. Meteora Capital LLC boosted its stake in shares of International Media Acquisition by 9.9% during the third quarter. Meteora Capital LLC now owns 266,401 shares of the company’s stock valued at $3,026,000 after purchasing an additional 23,966 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its stake in shares of International Media Acquisition by 18.5% during the third quarter. Mizuho Securities USA LLC now owns 149,362 shares of the company’s stock valued at $1,673,000 after purchasing an additional 23,265 shares in the last quarter. Institutional investors own 25.87% of the company’s stock.

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.