TMT Acquisition Corp (NASDAQ:TMTC) Sees Large Increase in Short Interest

TMT Acquisition Corp (NASDAQ:TMTC) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 2,400 shares, an increase of 20.0% from the May 15th total of 2,000 shares. Based on an average daily trading volume, of 15,700 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are sold short.

TMT Acquisition Stock Performance

TMTC traded up $0.02 during trading on Friday, hitting $10.96. The stock had a trading volume of 370 shares, compared to its average volume of 1,873. TMT Acquisition has a twelve month low of $10.22 and a twelve month high of $10.98. The company’s 50-day moving average price is $10.88 and its 200 day moving average price is $10.71.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Shaolin Capital Management LLC purchased a new position in shares of TMT Acquisition during the 1st quarter worth approximately $2,405,000. Berkley W R Corp raised its position in TMT Acquisition by 1,292.6% in the first quarter. Berkley W R Corp now owns 341,870 shares of the company’s stock worth $3,656,000 after acquiring an additional 317,321 shares in the last quarter. Sandia Investment Management LP acquired a new stake in TMT Acquisition in the first quarter valued at $1,336,000. K2 Principal Fund L.P. purchased a new stake in shares of TMT Acquisition during the 1st quarter worth $1,158,000. Finally, Mizuho Securities USA LLC boosted its position in shares of TMT Acquisition by 354.4% during the 1st quarter. Mizuho Securities USA LLC now owns 258,917 shares of the company’s stock worth $2,752,000 after purchasing an additional 201,931 shares in the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.

About TMT Acquisition

TMT Acquisition Corp does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock 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.