TMT Acquisition Corp (NASDAQ:TMTC) Sees Significant Increase in Short Interest

by · The Markets Daily

TMT Acquisition Corp (NASDAQ:TMTC – Get Free Report) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 56,800 shares, an increase of 18,833.3% from the October 15th total of 300 shares. Based on an average trading volume of 38,600 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.9% of the shares of the stock are sold short.

TMT Acquisition Stock Performance

Shares of TMT Acquisition stock traded down $0.76 on Tuesday, hitting $7.23. 740 shares of the company traded hands, compared to its average volume of 43,300. TMT Acquisition has a 12-month low of $5.60 and a 12-month high of $12.60. The firm’s 50-day simple moving average is $10.53 and its 200 day simple moving average is $10.83.

Hedge Funds Weigh In On TMT Acquisition

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CVI Holdings LLC purchased a new stake in TMT Acquisition during the 2nd quarter valued at $692,000. K2 Principal Fund L.P. purchased a new stake in TMT Acquisition in the first quarter worth $1,158,000. Sandia Investment Management LP purchased a new position in TMT Acquisition during the 1st quarter valued at $1,336,000. Shaolin Capital Management LLC bought a new position in TMT Acquisition in the 1st quarter worth $2,405,000. Finally, Mizuho Securities USA LLC raised its holdings in TMT Acquisition by 354.4% in the 1st quarter. Mizuho Securities USA LLC now owns 258,917 shares of the company’s stock worth $2,752,000 after purchasing an additional 201,931 shares in the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

About TMT Acquisition

(Get Free Report)

TMT Acquisition Corp does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.

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