SIM Acquisition Corp. I (NASDAQ:SIMA) Trading 1.6% Higher - Here's Why

Key Points

• SIM Acquisition Corp. I (NASDAQ:SIMA) saw its stock trade up by 1.6% during mid-day trading, with the last trading price at $10.69.
• Institutional investors have shown significant interest, with Magnetar Financial LLC purchasing a new stake worth $20.36 million and Picton Mahoney Asset Management increasing its position by 28.6%.
• The company remains focused on the healthcare industry as it seeks opportunities for mergers and other business combinations.

SIM Acquisition Corp. I (NASDAQ:SIMA - ) traded up 1.6% during mid-day trading on Thursday . The company traded as high as $10.54 and last traded at $10.69. 10,865 shares traded hands during trading, a decline of 61% from the average session volume of 27,611 shares. The stock had previously closed at $10.52.

SIM Acquisition Corp. I Trading Up 1.6%

The stock's fifty day moving average is $10.47 and its 200-day moving average is $10.38.

Institutional Trading of SIM Acquisition Corp. I

A number of hedge funds have recently added to or reduced their stakes in the company. Magnetar Financial LLC purchased a new stake in SIM Acquisition Corp. I during the second quarter worth $20,366,000. Picton Mahoney Asset Management raised its position in SIM Acquisition Corp. I by 28.6% during the second quarter. Picton Mahoney Asset Management now owns 1,800,000 shares of the company's stock worth $18,760,000 after acquiring an additional 400,000 shares during the period. Westchester Capital Management LLC raised its position in SIM Acquisition Corp. I by 73.1% during the first quarter. Westchester Capital Management LLC now owns 1,125,000 shares of the company's stock worth $11,531,000 after acquiring an additional 475,000 shares during the period. Meteora Capital LLC acquired a new position in SIM Acquisition Corp. I during the second quarter worth $9,666,000. Finally, Alberta Investment Management Corp acquired a new position in SIM Acquisition Corp. I during the second quarter worth $7,822,000.

SIM Acquisition Corp. I Company Profile

SIM 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. The company primary focus on the healthcare industry. SIM Acquisition Corp.

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