Melar Acquisition Corp. I (NASDAQ:MACI) Trading 0.1% Higher – Time to Buy?

Melar Acquisition Corp. I (NASDAQ:MACI)’s stock price traded up 0.1% during trading on Friday . The company traded as high as $10.16 and last traded at $10.11. 65,572 shares were traded during trading, an increase of 63% from the average session volume of 40,143 shares. The stock had previously closed at $10.10.

Melar Acquisition Corp. I Stock Performance

The company’s 50-day moving average is $10.07.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Polar Asset Management Partners Inc. bought a new stake in Melar Acquisition Corp. I in the 3rd quarter worth about $14,843,000. Glazer Capital LLC bought a new stake in shares of Melar Acquisition Corp. I in the third quarter worth approximately $3,748,000. Rivernorth Capital Management LLC purchased a new position in shares of Melar Acquisition Corp. I during the third quarter valued at approximately $2,998,000. Periscope Capital Inc. bought a new position in Melar Acquisition Corp. I during the third quarter valued at approximately $2,497,000. Finally, Berkley W R Corp purchased a new stake in Melar Acquisition Corp. I in the third quarter worth approximately $1,991,000.

Melar Acquisition Corp. I Company Profile

Melar Acquisition Corp. I is a blank check company. It formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Melar Acquisition Corp. I is based in NEW YORK.