International Media Acquisition (NASDAQ:IMAQ) Trading Down 0.9% – Here’s Why

International Media Acquisition Corp. (NASDAQ:IMAQ)’s stock price fell 0.9% during mid-day trading on Friday . The company traded as low as $10.90 and last traded at $10.90. 641 shares were traded during mid-day trading, a decline of 55% from the average session volume of 1,412 shares. The stock had previously closed at $11.00.

International Media Acquisition Stock Down 0.9 %

The firm has a fifty day simple moving average of $10.93 and a 200 day simple moving average of $11.30.

Institutional Investors Weigh In On International Media Acquisition

An institutional investor recently raised its position in International Media Acquisition stock. Clear Street LLC raised its stake in International Media Acquisition Corp. (NASDAQ:IMAQ) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,223 shares of the company’s stock after purchasing an additional 2,444 shares during the quarter. Clear Street LLC owned about 0.63% of International Media Acquisition worth $543,000 at the end of the most recent quarter. 25.87% of the stock is owned by institutional investors and hedge funds.

International Media Acquisition Company Profile

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.