Armada Acquisition Corp. III (NASDAQ:AACIU) Short Interest Up ∞ in June

Armada Acquisition Corp. III (NASDAQ:AACIU) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 1 shares, a growth of ∞ from the June 15th total of 0 shares. Based on an average daily trading volume, of 652 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AACIU. Cable Car Capital LP purchased a new position in Armada Acquisition Corp. III during the 2nd quarter valued at about $1,532,000. Moore Capital Management LP bought a new position in shares of Armada Acquisition Corp. III during the second quarter valued at approximately $2,036,000. Whitebox Advisors LLC bought a new position in shares of Armada Acquisition Corp. III during the second quarter valued at approximately $2,042,000. Karpus Management Inc. purchased a new position in Armada Acquisition Corp. III during the second quarter valued at approximately $3,063,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in Armada Acquisition Corp. III during the second quarter valued at approximately $15,315,000.

Armada Acquisition Corp. III Stock Performance

Shares of Armada Acquisition Corp. III stock traded up $0.35 during trading on Friday, hitting $10.49. 136 shares of the stock traded hands, compared to its average volume of 27,573. Armada Acquisition Corp. III has a 52-week low of $9.95 and a 52-week high of $10.75. The stock’s fifty day simple moving average is $10.21 and its 200 day simple moving average is $10.71.

About Armada Acquisition Corp. III

Armada Acquisition Corp. III (NASDAQ: AACIU) is a special purpose acquisition company (SPAC), commonly referred to as a blank check company, that is organized to raise capital through a public offering and use those proceeds to effect one or more business combinations. As a publicly listed SPAC, its principal activity is sourcing, negotiating and completing a merger, capital stock exchange or other business combination with an operating company, rather than operating an ongoing commercial business of its own.

Typical SPAC activities include the issuance of units in an initial public offering, with the IPO proceeds placed in a trust account pending the completion of a qualifying business combination.