TMT Acquisition Corp (NASDAQ:TMTC) Short Interest Up 400.0% in March

TMT Acquisition Corp (NASDAQ:TMTC - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 3,500 shares, an increase of 400.0% from the March 15th total of 700 shares. Based on an average daily volume of 50,700 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are short sold.

TMT Acquisition Stock Performance

NASDAQ:TMTC traded down $0.05 during mid-day trading on Wednesday, hitting $10.82. 8,453 shares of the stock were exchanged, compared to its average volume of 67,480. The firm's 50-day simple moving average is $10.68 and its 200 day simple moving average is $10.57. TMT Acquisition has a fifty-two week low of $10.10 and a fifty-two week high of $10.87.

Hedge Funds Weigh In On TMT Acquisition

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Karpus Management Inc. increased its position in shares of TMT Acquisition by 1.1% in the third quarter. Karpus Management Inc. now owns 796,497 shares of the company's stock worth $8,315,000 after purchasing an additional 8,500 shares during the period. Glazer Capital LLC increased its holdings in shares of TMT Acquisition by 11.2% during the fourth quarter. Glazer Capital LLC now owns 139,428 shares of the company's stock valued at $1,467,000 after acquiring an additional 14,092 shares in the last quarter. Wealthspring Capital LLC raised its position in shares of TMT Acquisition by 31.6% during the fourth quarter. Wealthspring Capital LLC now owns 60,160 shares of the company's stock worth $633,000 after purchasing an additional 14,450 shares during the period. Bulldog Investors LLP raised its position in shares of TMT Acquisition by 19.0% during the fourth quarter. Bulldog Investors LLP now owns 118,291 shares of the company's stock worth $1,242,000 after purchasing an additional 18,914 shares during the period. Finally, Robinson Capital Management LLC bought a new position in shares of TMT Acquisition in the 3rd quarter worth $209,000. 88.31% of the stock is owned by institutional investors and hedge funds.

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.