Slam Corp. (NASDAQ:SLAM) Sees Significant Drop in Short Interest

Slam Corp. (NASDAQ:SLAM) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 11,000 shares, a drop of 23.6% from the May 31st total of 14,400 shares. Based on an average trading volume of 9,900 shares, the short-interest ratio is presently 1.1 days. Currently, 0.1% of the company’s shares are short sold.

Slam Stock Up 0.2 %

SLAM traded up $0.02 on Monday, hitting $11.14. The company had a trading volume of 240 shares, compared to its average volume of 28,128. The business’s fifty day simple moving average is $11.08 and its 200 day simple moving average is $10.98. Slam has a 12-month low of $10.66 and a 12-month high of $11.24. The company has a market cap of $261.23 million, a PE ratio of 101.27 and a beta of 0.01.

Slam (NASDAQ:SLAM) last announced its earnings results on Monday, April 1st. The company reported ($0.01) EPS for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Spartan Fund Management Inc. purchased a new position in shares of Slam during the 1st quarter worth about $166,000. Flow State Investments L.P. boosted its position in shares of Slam by 78.4% during the fourth quarter. Flow State Investments L.P. now owns 190,000 shares of the company’s stock valued at $2,062,000 after buying an additional 83,500 shares during the period. AQR Arbitrage LLC bought a new position in shares of Slam during the third quarter valued at approximately $2,695,000. Gabelli Funds LLC raised its holdings in shares of Slam by 25.2% in the fourth quarter. Gabelli Funds LLC now owns 276,966 shares of the company’s stock worth $3,005,000 after buying an additional 55,747 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in shares of Slam by 24.6% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 284,500 shares of the company’s stock worth $3,087,000 after acquiring an additional 56,150 shares during the last quarter. Institutional investors own 87.25% of the company’s stock.

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.