Southport Acquisition Co. (NYSE:PORT) Sees Significant Drop in Short Interest

Key Points

• Short Interest Decrease: Southport Acquisition Co. reported a significant decrease in short interest, with only 300 shares short as of August 15th, down 25% from 400 shares on July 31st.
• Stock Trading Performance: On Monday, the stock traded down to $37.00, with a twelve month range between $10.80 and $60.00 and a daily trading volume that exceeded the average.
• Acquisition Focus: Southport Acquisition Corporation aims to engage in mergers and acquisitions in the financial software sector, particularly targeting mortgage and real estate businesses in the U.S.

Southport Acquisition Co. (NYSE:PORT - ) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totaling 300 shares, adecreaseof25.0% from the July 31st total of 400 shares. Based on an average daily volume of 2,600 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 2,600 shares, the days-to-cover ratio is presently 0.1 days.

Southport Acquisition Price Performance

NYSE:PORT traded down $7.01 during mid-day trading on Monday, reaching $37.00. The stock had a trading volume of 5,440 shares, compared to its average volume of 2,370. Southport Acquisition has a twelve month low of $10.80 and a twelve month high of $60.00. The business has a 50 day simple moving average of $19.82 and a 200 day simple moving average of $14.51.

About Southport Acquisition

Southport Acquisition Corporation does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to acquire businesses in the field of financial software with a focus on mortgage and real estate verticals in the United States.

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