Sagaliam Acquisition Corp. (NASDAQ:SAGA) Short Interest Update

Sagaliam Acquisition Corp. (NASDAQ:SAGA – Get Rating) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 8,600 shares, an increase of 83.0% from the July 15th total of 4,700 shares. Based on an average trading volume of 15,100 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On Sagaliam Acquisition

Institutional investors have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. bought a new position in Sagaliam Acquisition in the first quarter worth $9,791,000. Spring Creek Capital LLC purchased a new stake in shares of Sagaliam Acquisition in the first quarter worth $3,688,000. EHP Funds Inc. purchased a new stake in shares of Sagaliam Acquisition in the first quarter worth $319,000. Goldman Sachs Group Inc. purchased a new stake in shares of Sagaliam Acquisition in the first quarter worth $225,000. Finally, Wolverine Asset Management LLC grew its stake in shares of Sagaliam Acquisition by 21.8% in the second quarter. Wolverine Asset Management LLC now owns 562,482 shares of the company's stock worth $5,562,000 after acquiring an additional 100,649 shares during the last quarter. Institutional investors own 27.48% of the company's stock.

Sagaliam Acquisition Stock Performance

SAGA remained flat at $9.97 during trading on Thursday. The company's stock had a trading volume of 24,821 shares, compared to its average volume of 53,685. The company has a 50 day simple moving average of $9.94. Sagaliam Acquisition has a twelve month low of $9.60 and a twelve month high of $10.45.

About Sagaliam Acquisition

Sagaliam 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 in the telecommunications, media, and technology industries. The company was incorporated in 2021 and is based in Los Angeles, California.

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