Magnum Opus Acquisition Limited (NYSE:OPA) Sees Significant Growth in Short Interest

Magnum Opus Acquisition Limited (NYSE:OPA) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 979,000 shares, a growth of 51,426.3% from the August 15th total of 1,900 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average daily volume of 109,900 shares, the days-to-cover ratio is currently 8.9 days.

Shares of OPA opened at $9.87 on Wednesday. Magnum Opus Acquisition has a 1-year low of $9.56 and a 1-year high of $10.17. The firm’s fifty day moving average is $9.73.

A hedge fund recently bought a new stake in Magnum Opus Acquisition stock. LMR Partners LLP purchased a new stake in Magnum Opus Acquisition Limited (NYSE:OPA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,019 shares of the company’s stock, valued at approximately $693,000. LMR Partners LLP owned about 0.29% of Magnum Opus Acquisition as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 26.23% of the company’s stock.

About Magnum Opus Acquisition

Magnum Opus Acquisition Limited, a blank check company, intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses. The company was founded in 2021 and is based in Central, Hong Kong.

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