Screaming Eagle Acquisition (NASDAQ:SCRM) Sees Unusually-High Trading Volume

Screaming Eagle Acquisition Corp. (NASDAQ:SCRM) shares saw strong trading volume on Thursday . 3,563,749 shares were traded during trading, an increase of 367% from the previous session’s volume of 762,877 shares.The stock last traded at $10.79 and had previously closed at $10.78.

Screaming Eagle Acquisition Price Performance

The stock has a 50-day moving average price of $10.68 and a 200 day moving average price of $10.60.

Insiders Place Their Bets

In related news, major shareholder Flow State Investments, L.P. sold 500,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $10.76, for a total value of $5,380,000.00. Following the completion of the sale, the insider now directly owns 1,591,821 shares in the company, valued at $17,127,993.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Firethorn Wealth Partners LLC raised its holdings in shares of Screaming Eagle Acquisition by 17.2% in the 3rd quarter. Firethorn Wealth Partners LLC now owns 20,660 shares of the company’s stock worth $216,000 after purchasing an additional 3,030 shares during the period. Penserra Capital Management LLC acquired a new stake in Screaming Eagle Acquisition during the 1st quarter worth approximately $66,000. K2 Principal Fund L.P. purchased a new position in Screaming Eagle Acquisition in the third quarter valued at approximately $121,000. Trexquant Investment LP purchased a new position in Screaming Eagle Acquisition in the second quarter valued at approximately $185,000. Finally, Jane Street Group LLC acquired a new position in Screaming Eagle Acquisition during the first quarter valued at approximately $195,000. 73.98% of the stock is owned by hedge funds and other institutional investors.

Screaming Eagle Acquisition Company Profile

Screaming Eagle 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. The company was incorporated in 2021 and is based in New York, New York.