Melar Acquisition Corp. I (NASDAQ:MACI) Stock Price Down 0.1% - Should You Sell?

Melar Acquisition Corp. I (NASDAQ:MACI - Get Free Report) shares were down 0.1% during mid-day trading on Monday . The company traded as low as $10.24 and last traded at $10.25. Approximately 1,100 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 71,974 shares. The stock had previously closed at $10.26.

Melar Acquisition Corp. I Trading Up 0.1 %

The firm's 50-day moving average price is $10.23 and its two-hundred day moving average price is $10.12.

Institutional Trading of Melar Acquisition Corp. I

Hedge funds have recently made changes to their positions in the company. Rivernorth Capital Management LLC purchased a new position in Melar Acquisition Corp. I in the third quarter worth approximately $2,998,000. Wolverine Asset Management LLC grew its holdings in shares of Melar Acquisition Corp. I by 216.1% during the 4th quarter. Wolverine Asset Management LLC now owns 327,172 shares of the company's stock worth $3,291,000 after purchasing an additional 223,672 shares during the period. Virtu Financial LLC acquired a new stake in shares of Melar Acquisition Corp. I during the 3rd quarter worth about $1,227,000. Tidal Investments LLC purchased a new stake in Melar Acquisition Corp. I in the 3rd quarter valued at about $209,000. Finally, Toronto Dominion Bank acquired a new position in Melar Acquisition Corp. I in the fourth quarter valued at about $152,000.

About Melar Acquisition Corp. I

Melar Acquisition Corp. I is a blank check company. It formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Melar Acquisition Corp. I is based in NEW YORK.