South Mountain Merger Corp. (OTCMKTS:SMMCU)’s share price was down 0.7% on Wednesday . The stock traded as low as $10.15 and last traded at $10.15, approximately 9,820 shares were traded during mid-day trading. A decline of 78% from the average daily volume of 44,762 shares. The stock had previously closed at $10.22.
The business has a 50-day moving average of $10.24.
A number of institutional investors have recently modified their holdings of SMMCU. Magnetar Financial LLC purchased a new position in South Mountain Merger in the second quarter worth approximately $22,275,000. Brown Advisory Inc. acquired a new position in South Mountain Merger during the second quarter worth $11,473,000. Polar Asset Management Partners Inc. acquired a new position in South Mountain Merger during the second quarter worth $10,000,000. Echo Street Capital Management LLC acquired a new position in South Mountain Merger during the second quarter worth $7,500,000. Finally, Cowen Inc. acquired a new position in South Mountain Merger during the second quarter worth $6,689,000.
South Mountain Merger Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded in 2019 and is based in New York, New York.
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