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

TMT Acquisition Corp (NASDAQ:TMTC) saw a significant 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. Approximately 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 38,600 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cowen AND Company LLC lifted its stake in TMT Acquisition by 5.3% in the second quarter. Cowen AND Company LLC now owns 288,701 shares of the company’s stock valued at $3,170,000 after buying an additional 14,623 shares in the last quarter. Wolverine Asset Management LLC increased its position in TMT Acquisition by 5.9% during the second quarter. Wolverine Asset Management LLC now owns 359,231 shares of the company’s stock worth $3,944,000 after acquiring an additional 20,000 shares during the period. CVI Holdings LLC bought a new position in shares of TMT Acquisition during the second quarter worth approximately $692,000. K2 Principal Fund L.P. acquired a new position in TMT Acquisition in the 1st quarter valued at $1,158,000. Finally, Sandia Investment Management LP acquired a new position in shares of TMT Acquisition in the 1st quarter valued at approximately $1,336,000. Institutional investors own 88.31% of the company’s stock.

TMT Acquisition Price Performance

Shares of NASDAQ TMTC opened at $7.29 on Thursday. The business has a fifty day moving average of $10.46 and a two-hundred day moving average of $10.81. TMT Acquisition has a 52-week low of $5.60 and a 52-week high of $12.60.

TMT Acquisition Company Profile

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.