CONX Corp. (NASDAQ:CONXW) Sees Large Drop in Short Interest

CONX Corp. (NASDAQ:CONXW) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 4,600 shares, a drop of 8.0% from the March 15th total of 5,000 shares. Based on an average daily volume of 30,900 shares, the days-to-cover ratio is currently 0.1 days.

CONX Price Performance

Shares of CONXW opened at $0.19 on Wednesday. The business’s 50 day moving average is $0.18 and its 200 day moving average is $0.21. CONX has a 12-month low of $0.05 and a 12-month high of $0.41.

Institutional Trading of CONX

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Periscope Capital Inc. increased its stake in CONX by 420.5% in the 1st quarter. Periscope Capital Inc. now owns 393,020 shares of the company’s stock worth $71,000 after acquiring an additional 317,516 shares during the last quarter. Potomac Capital Management Inc. increased its stake in CONX by 15.6% in the 1st quarter. Potomac Capital Management Inc. now owns 751,375 shares of the company’s stock worth $7,626,000 after acquiring an additional 101,375 shares during the last quarter. Apollo Management Holdings L.P. bought a new stake in CONX in the 1st quarter worth approximately $54,000. Finally, JPMorgan Chase & Co. increased its stake in CONX by 1,662.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 296,484 shares of the company’s stock worth $53,000 after acquiring an additional 279,662 shares during the last quarter.

About CONX

CONX Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to focus its search on identifying a prospective target operating in the technology, media, and telecommunications industries, including wireless communications industry.