Drugs Made In America Acquisition Corp. (NASDAQ:DMAA) Sees Large Decrease in Short Interest

Drugs Made In America Acquisition Corp. (NASDAQ:DMAA) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 17,252 shares, a decline of 30.6% from the March 15th total of 24,866 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 43,602 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On Drugs Made In America Acquisition

Several institutional investors and hedge funds have recently modified their holdings of DMAA. Context Capital Management LLC bought a new stake in Drugs Made In America Acquisition in the 3rd quarter valued at approximately $2,568,000. Clear Street Group Inc. bought a new stake in Drugs Made In America Acquisition in the 3rd quarter valued at approximately $2,152,000. Wolverine Asset Management LLC lifted its stake in Drugs Made In America Acquisition by 22.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 1,249,128 shares of the company’s stock valued at $12,829,000 after acquiring an additional 227,222 shares in the last quarter. Radcliffe Capital Management L.P. lifted its stake in Drugs Made In America Acquisition by 316.7% in the 3rd quarter. Radcliffe Capital Management L.P. now owns 528,100 shares of the company’s stock valued at $5,424,000 after acquiring an additional 401,378 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Drugs Made In America Acquisition in the 3rd quarter valued at approximately $1,024,000.

Drugs Made In America Acquisition Trading Down 0.0%

Shares of DMAA opened at $10.52 on Tuesday. The stock has a 50 day simple moving average of $10.48 and a 200 day simple moving average of $10.39. Drugs Made In America Acquisition has a 52-week low of $10.02 and a 52-week high of $10.52.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Drugs Made In America Acquisition in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Drugs Made In America Acquisition currently has a consensus rating of “Sell”.

About Drugs Made In America Acquisition

Drugs Made In America Acquisition Corp (NASDAQ: DMAA) is a special purpose acquisition company incorporated in Delaware with the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company’s stated focus is on identifying and acquiring one or more operating businesses in the U.S. pharmaceutical sector, particularly those involved in the domestic manufacturing of approved drugs, active pharmaceutical ingredients or related contract development and manufacturing services.

Operating as a blank‐check vehicle, Drugs Made In America Acquisition holds its funds in a trust account pending the completion of an initial business combination.