Kingstown Capital Management L.P. Acquires Shares of 300,000 Velocity Acquisition Corp. (OTCMKTS:VELOU)

Kingstown Capital Management L.P. acquired a new stake in Velocity Acquisition Corp. (OTCMKTS:VELOU) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 300,000 shares of the company’s stock, valued at approximately $2,958,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Citadel Advisors LLC acquired a new stake in Velocity Acquisition in the 1st quarter valued at about $16,878,000. Glenview Capital Management LLC acquired a new stake in Velocity Acquisition in the 1st quarter valued at about $14,790,000. Aristeia Capital LLC acquired a new stake in Velocity Acquisition in the 1st quarter valued at about $11,832,000. JPMorgan Chase & Co. acquired a new stake in Velocity Acquisition in the 1st quarter valued at about $8,556,000. Finally, Periscope Capital Inc. acquired a new stake in Velocity Acquisition in the 1st quarter valued at about $6,902,000.

Shares of OTCMKTS VELOU traded up $0.04 during mid-day trading on Thursday, hitting $10.19. The company’s stock had a trading volume of 97,640 shares, compared to its average volume of 104,966. Velocity Acquisition Corp. has a one year low of $9.75 and a one year high of $10.65. The company has a fifty day simple moving average of $9.97.

About Velocity Acquisition

Velocity Acquisition Corp. intends to effect a merger, stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in digital transformation businesses. The company was incorporated in 2020 and is based in Ridgefield, Connecticut.

Further Reading: Momentum Indicator: Relative Strength Index

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Institutional Ownership by Quarter for Velocity Acquisition (OTCMKTS:VELOU)

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