Seaport Global Acquisition II Corp. (NASDAQ:SGII) Short Interest Down 20.0% in October
Seaport Global Acquisition II Corp. (NASDAQ:SGII – Get Rating) was the target of a sharp drop in short-term interest rates in October. As of October 31, there was selling interest totaling 400 shares, down 20.0% from the total of 500 shares as of October 15. Based on an average daily volume of 25,900 shares, the day-to-cover ratio is currently 0.0 day.
Institutional entries and exits
Hedge funds have recently increased or reduced their holdings in the stock. Spring Creek Capital LLC purchased a new position in Seaport Global Acquisition II during Q1 valued at $1,982,000. Saba Capital Management LP increased its position in shares of Seaport Global Acquisition II by 4.2% in the 1st quarter. Saba Capital Management LP now owns 1,235,035 shares of the company worth $12,239,000 after purchasing an additional 50,036 shares during the period. Context Capital Management LLC purchased a new equity stake in Seaport Global Acquisition II in Q1 for approximately $578,000. Taconic Capital Advisors LP purchased a new equity stake in Seaport Global Acquisition II in Q1 for approximately $1,982,000. Finally, Omni Event Management Ltd purchased a new equity stake in Seaport Global Acquisition II in Q1 for a value of approximately $1,433,000. 69.98% of the shares are held by hedge funds and other institutional investors.
Seaport Global Acquisition II Price Performance
Seaport Global Acquisition II shares opened at $10.06 on Friday. The company’s fifty-day simple moving average is $10.02 and its two-hundred-day simple moving average is $9.98. Seaport Global Acquisition II has a 12-month low of $9.67 and a 12-month high of $11.00.
About Seaport Global Acquisition II
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Seaport Global Acquisition II Corp. has no significant activities. It focuses on completing a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or several companies. The company was incorporated in 2021 and is based in New York, New York.
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