SIM Acquisition Corp. I (NASDAQ:SIMA – Get Free Report) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 15,083 shares, a growth of 1,741.6% from the April 30th total of 819 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 19,037 shares, the short-interest ratio is currently 0.8 days.
SIM Acquisition Corp. I Price Performance
Shares of NASDAQ:SIMA opened at $10.80 on Thursday. The stock’s 50-day simple moving average is $10.80 and its two-hundred day simple moving average is $10.69. SIM Acquisition Corp. I has a 52-week low of $10.10 and a 52-week high of $12.90.
SIM Acquisition Corp. I (NASDAQ:SIMA – Get Free Report) last announced its earnings results on Friday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter.
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Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. Berkley W R Corp raised its stake in shares of SIM Acquisition Corp. I by 74.9% in the first quarter. Berkley W R Corp now owns 912,286 shares of the company’s stock worth $9,780,000 after buying an additional 390,768 shares during the period. Wolverine Asset Management LLC raised its stake in shares of SIM Acquisition Corp. I by 1.2% in the fourth quarter. Wolverine Asset Management LLC now owns 732,459 shares of the company’s stock worth $7,757,000 after buying an additional 8,514 shares during the period. Hudson Bay Capital Management LP raised its stake in shares of SIM Acquisition Corp. I by 101.0% in the third quarter. Hudson Bay Capital Management LP now owns 597,018 shares of the company’s stock worth $6,269,000 after buying an additional 300,000 shares during the period. Radcliffe Capital Management L.P. raised its stake in shares of SIM Acquisition Corp. I by 5.2% in the fourth quarter. Radcliffe Capital Management L.P. now owns 536,322 shares of the company’s stock worth $5,680,000 after buying an additional 26,290 shares during the period. Finally, DLD Asset Management LP bought a new position in shares of SIM Acquisition Corp. I in the first quarter worth about $5,375,000.
About SIM Acquisition Corp. I
SIM Acquisition Corp. I is a Delaware‐incorporated special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Since completing its initial public offering in March 2021, the company has focused on identifying targets in the technology, digital media, sports, entertainment and consumer sectors.
The proceeds from its IPO are held in a trust account pending shareholder approval of its initial business combination.
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