International Media Acquisition (NASDAQ:IMAQ) Stock Price Down 1.2% – Here’s Why

International Media Acquisition Corp. (NASDAQ:IMAQ) shares traded down 1.2% during mid-day trading on Monday . The stock traded as low as $11.12 and last traded at $11.12. 1,386 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 1,296 shares. The stock had previously closed at $11.25.

International Media Acquisition Trading Down 1.2 %

The company’s 50-day moving average is $10.99 and its 200 day moving average is $11.19.

Hedge Funds Weigh In On International Media Acquisition

An institutional investor recently raised its position in International Media Acquisition stock. Clear Street LLC lifted its holdings in shares of International Media Acquisition Corp. (NASDAQ:IMAQ) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,223 shares of the company’s stock after buying an additional 2,444 shares during the quarter. Clear Street LLC owned approximately 0.63% of International Media Acquisition worth $543,000 as of its most recent SEC filing. 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.