Armada Acquisition Corp. III (NASDAQ:AACIU – Get Free Report) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 1 shares, a growth of ∞ from the June 15th total of 0 shares. Based on an average trading volume of 652 shares, the days-to-cover ratio is presently 0.0 days.
Armada Acquisition Corp. III Stock Performance
Shares of NASDAQ AACIU opened at $10.45 on Wednesday. The business’s 50-day moving average price is $10.19 and its two-hundred day moving average price is $10.71. Armada Acquisition Corp. III has a one year low of $9.95 and a one year high of $10.75.
Institutional Investors Weigh In On Armada Acquisition Corp. III
Large investors have recently made changes to their positions in the company. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in Armada Acquisition Corp. III in the second quarter worth approximately $15,315,000. Karpus Management Inc. acquired a new position in shares of Armada Acquisition Corp. III during the 2nd quarter worth $3,063,000. Whitebox Advisors LLC bought a new position in shares of Armada Acquisition Corp. III during the 2nd quarter valued at $2,042,000. Moore Capital Management LP bought a new position in shares of Armada Acquisition Corp. III during the 2nd quarter valued at $2,036,000. Finally, Cable Car Capital LP acquired a new stake in shares of Armada Acquisition Corp. III in the 2nd quarter valued at $1,532,000.
Armada Acquisition Corp. III Company Profile
Armada Acquisition Corp. III (NASDAQ: AACIU) is a special purpose acquisition company (SPAC), commonly referred to as a blank check company, that is organized to raise capital through a public offering and use those proceeds to effect one or more business combinations. As a publicly listed SPAC, its principal activity is sourcing, negotiating and completing a merger, capital stock exchange or other business combination with an operating company, rather than operating an ongoing commercial business of its own.
Typical SPAC activities include the issuance of units in an initial public offering, with the IPO proceeds placed in a trust account pending the completion of a qualifying business combination.
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