International Media Acquisition (NASDAQ:IMAQ) Trading Down 0.9% – Should You Sell?

Shares of International Media Acquisition Corp. (NASDAQ:IMAQ) traded down 0.9% on Tuesday . The company traded as low as $11.50 and last traded at $11.50. 114 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,358 shares. The stock had previously closed at $11.60.

International Media Acquisition Stock Performance

The firm has a 50-day moving average price of $11.18 and a two-hundred day moving average price of $11.19.

Hedge Funds Weigh In On International Media Acquisition

A hedge fund recently raised its stake in International Media Acquisition stock. Clear Street LLC increased its holdings in shares of International Media Acquisition Corp. (NASDAQ:IMAQ) by 5.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,223 shares of the company’s stock after purchasing an additional 2,444 shares during the period. Clear Street LLC owned 0.63% of International Media Acquisition worth $543,000 as of its most recent SEC filing. 25.87% of the stock is currently owned by hedge funds and other institutional investors.

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.