Short Interest in The Music Acquisition Co. (NYSE:TMAC) Increases By 250.0%

The Music Acquisition Co. (NYSE:TMACGet Rating) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 3,500 shares, an increase of 250.0% from the April 15th total of 1,000 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 43,500 shares, the days-to-cover ratio is currently 0.1 days.

TMAC remained flat at $$9.78 during trading on Friday. 1 shares of the company’s stock traded hands, compared to its average volume of 9,747. The firm’s fifty day moving average price is $9.78 and its 200 day moving average price is $9.75. Music Acquisition has a 1 year low of $9.60 and a 1 year high of $9.95.

Several hedge funds have recently added to or reduced their stakes in TMAC. Omni Event Management Ltd purchased a new position in Music Acquisition in the 4th quarter worth about $659,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Music Acquisition in the 1st quarter worth approximately $488,000. Basso Capital Management L.P. boosted its position in shares of Music Acquisition by 47.6% during the 1st quarter. Basso Capital Management L.P. now owns 11,773 shares of the company’s stock valued at $115,000 after acquiring an additional 3,797 shares during the last quarter. Saba Capital Management L.P. boosted its position in shares of Music Acquisition by 4.4% during the 4th quarter. Saba Capital Management L.P. now owns 442,345 shares of the company’s stock valued at $4,317,000 after acquiring an additional 18,633 shares during the last quarter. Finally, Cantor Fitzgerald Investment Adviser L.P. bought a new stake in Music Acquisition in the fourth quarter worth $700,000. Institutional investors own 97.66% of the company’s stock.

About Music Acquisition (Get Rating)

The Music Acquisition Corporation does not have significant operations. It intends on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses in the music sector. The company was incorporated in 2020 and is based in Hollywood, California.

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