Starboard Value Acquisition Corp. (NASDAQ:SVAC) shares saw unusually-strong trading volume on Tuesday . Approximately 88,393 shares were traded during mid-day trading, a decline of 70% from the previous session’s volume of 290,047 shares.The stock last traded at $9.95 and had previously closed at $9.97.
The business has a 50-day simple moving average of $9.98.
A number of hedge funds and other institutional investors have recently modified their holdings of SVAC. Hudson Bay Capital Management LP acquired a new stake in Starboard Value Acquisition in the fourth quarter worth $22,768,000. Weiss Asset Management LP increased its position in Starboard Value Acquisition by 433.7% in the first quarter. Weiss Asset Management LP now owns 1,634,653 shares of the company’s stock worth $16,232,000 after buying an additional 1,328,357 shares during the period. TIG Advisors LLC increased its position in Starboard Value Acquisition by 496.6% in the first quarter. TIG Advisors LLC now owns 1,534,129 shares of the company’s stock worth $15,234,000 after buying an additional 1,276,983 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Starboard Value Acquisition in the fourth quarter worth $11,327,000. Finally, Tuttle Tactical Management acquired a new stake in Starboard Value Acquisition in the first quarter worth $6,472,000.
Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.
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