Short Interest in Armada Acquisition Corp. III (NASDAQ:AACIU) Rises By ∞

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

Armada Acquisition Corp. III Trading Up 3.2%

Shares of NASDAQ AACIU opened at $10.46 on Thursday. The company has a 50-day moving average price of $10.20 and a 200-day moving average price of $10.71. Armada Acquisition Corp. III has a 1 year low of $9.95 and a 1 year high of $10.75.

Institutional Trading of Armada Acquisition Corp. III

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

Armada Acquisition Corp. III Company Profile

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.