CONX Corp. (NASDAQ:CONXW) Sees Large Drop in Short Interest

CONX Corp. (NASDAQ:CONXW) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 4,600 shares, a drop of 8.0% from the March 15th total of 5,000 shares. Based on an average daily trading volume, of 30,900 shares, the short-interest ratio is currently 0.1 days.

CONX Trading Up 5.5 %

CONX stock opened at $0.19 on Wednesday. CONX has a twelve month low of $0.05 and a twelve month high of $0.41. The company has a 50 day moving average of $0.18 and a 200-day moving average of $0.21.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Potomac Capital Management Inc. boosted its holdings in CONX by 15.6% during the first quarter. Potomac Capital Management Inc. now owns 751,375 shares of the company’s stock worth $7,626,000 after purchasing an additional 101,375 shares during the last quarter. Periscope Capital Inc. raised its position in CONX by 420.5% during the first quarter. Periscope Capital Inc. now owns 393,020 shares of the company’s stock worth $71,000 after acquiring an additional 317,516 shares in the last quarter. Apollo Management Holdings L.P. bought a new stake in CONX during the first quarter worth $54,000. Finally, JPMorgan Chase & Co. raised its position in CONX by 1,662.5% during the second quarter. JPMorgan Chase & Co. now owns 296,484 shares of the company’s stock worth $53,000 after acquiring an additional 279,662 shares in the last quarter.

About CONX

CONX Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to focus its search on identifying a prospective target operating in the technology, media, and telecommunications industries, including wireless communications industry.