Short Interest in Slam Corp. (NASDAQ:SLAM) Expands By 125.0%

Slam Corp. (NASDAQ:SLAM) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 10,800 shares, an increase of 125.0% from the March 31st total of 4,800 shares. Based on an average daily volume of 20,600 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On Slam

Institutional investors have recently added to or reduced their stakes in the stock. Spartan Fund Management Inc. acquired a new stake in Slam in the first quarter valued at $166,000. BCK Capital Management LP acquired a new stake in shares of Slam in the third quarter valued at about $307,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of Slam by 25.4% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 228,350 shares of the company’s stock worth $2,462,000 after acquiring an additional 46,200 shares during the last quarter. Gabelli Funds LLC lifted its stake in shares of Slam by 32.1% in the third quarter. Gabelli Funds LLC now owns 221,219 shares of the company’s stock worth $2,385,000 after acquiring an additional 53,800 shares during the period. Finally, Westchester Capital Management LLC boosted its holdings in Slam by 2.8% in the third quarter. Westchester Capital Management LLC now owns 2,528,789 shares of the company’s stock valued at $27,260,000 after acquiring an additional 70,000 shares during the last quarter. 87.25% of the stock is currently owned by institutional investors and hedge funds.

Slam Price Performance

NASDAQ SLAM remained flat at $11.05 on Friday. The company’s stock had a trading volume of 14 shares, compared to its average volume of 1,384. Slam has a 12-month low of $10.35 and a 12-month high of $11.17. The business has a 50 day moving average price of $10.98 and a 200-day moving average price of $10.90.

Slam Company Profile

Slam Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses or entities. The company was incorporated in 2020 and is based in New York, New York.