Sagaliam Acquisition Corp. (NASDAQ:SAGA – Get Rating) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,400 shares, a decrease of 85.7% from the February 28th total of 9,800 shares. Based on an average trading volume of 6,200 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are sold short.
Institutional Investors Weigh In On Sagaliam Acquisition
Institutional investors and hedge funds have recently bought and sold shares of the business. Periscope Capital Inc. increased its holdings in shares of Sagaliam Acquisition by 30.5% in the 3rd quarter. Periscope Capital Inc. now owns 172,709 shares of the company's stock valued at $1,725,000 after purchasing an additional 40,400 shares during the period. Dark Forest Capital Management LP lifted its position in Sagaliam Acquisition by 743.2% in the second quarter. Dark Forest Capital Management LP now owns 331,678 shares of the company's stock worth $3,280,000 after purchasing an additional 292,344 shares during the period. Polar Asset Management Partners Inc. bought a new position in Sagaliam Acquisition in the first quarter worth $9,791,000. Millennium Management LLC lifted its holdings in shares of Sagaliam Acquisition by 1,199.5% during the second quarter. Millennium Management LLC now owns 534,630 shares of the company's stock valued at $5,287,000 after acquiring an additional 493,490 shares during the period. Finally, Spring Creek Capital LLC bought a new position in shares of Sagaliam Acquisition during the first quarter valued at $3,688,000. 74.11% of the stock is owned by institutional investors and hedge funds.
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Sagaliam Acquisition Stock Performance
SAGA traded up $0.11 on Monday, reaching $10.56. The company had a trading volume of 10,400 shares, compared to its average volume of 19,805. The company has a fifty day moving average of $10.43 and a 200-day moving average of $10.22. Sagaliam Acquisition has a one year low of $9.85 and a one year high of $10.99.
About Sagaliam Acquisition
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Sagaliam Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the telecommunications, media, and technology industries. The company was incorporated in 2021 and is based in Los Angeles, California.
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