RMG Acquisition Corp. III (NASDAQ:RMGC – Get Rating) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 3,300 shares, a drop of 45.9% from the April 30th total of 6,100 shares. Based on an average trading volume of 5,600 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.4% of the shares of the company are short sold.
Hedge Funds Weigh In On RMG Acquisition Corp. III
Hedge funds have recently bought and sold shares of the company. Toroso Investments LLC purchased a new position in RMG Acquisition Corp. III during the first quarter worth $306,000. Geode Capital Management LLC boosted its position in shares of RMG Acquisition Corp. III by 1.8% in the first quarter. Geode Capital Management LLC now owns 89,679 shares of the company’s stock worth $899,000 after buying an additional 1,584 shares during the period. Robinson Capital Management LLC purchased a new stake in shares of RMG Acquisition Corp. III in the first quarter worth about $305,000. Virtu Financial LLC boosted its holdings in RMG Acquisition Corp. III by 50.6% in the fourth quarter. Virtu Financial LLC now owns 42,723 shares of the company’s stock valued at $432,000 after purchasing an additional 14,358 shares during the last quarter. Finally, Sea Otter Advisors LLC purchased a new position in RMG Acquisition Corp. III in the fourth quarter valued at about $958,000. 78.26% of the stock is owned by hedge funds and other institutional investors.
RMG Acquisition Corp. III Price Performance
RMGC opened at $10.12 on Friday. The business has a 50 day simple moving average of $10.09 and a 200-day simple moving average of $10.05. RMG Acquisition Corp. III has a 12 month low of $9.78 and a 12 month high of $10.21.
About RMG Acquisition Corp. III
RMG Acquisition Corp. III does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Miami Beach, Florida.
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