Rivernorth Capital Management LLC Invests $4.77 Million in GSR IV Acquisition Corp. $GSRF

Rivernorth Capital Management LLC acquired a new stake in GSR IV Acquisition Corp. (NASDAQ:GSRF) in the first quarter, Holdings Channel.com reports. The fund acquired 475,489 shares of the company’s stock, valued at approximately $4,769,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bulldog Investors LLP acquired a new position in GSR IV Acquisition during the 4th quarter worth about $114,000. Virtu Financial LLC purchased a new position in GSR IV Acquisition during the 4th quarter valued at about $967,000. StoneX Group Inc. acquired a new position in GSR IV Acquisition in the 4th quarter valued at about $1,324,000. Boothbay Fund Management LLC acquired a new position in GSR IV Acquisition in the 4th quarter valued at about $1,469,000. Finally, Clear Street Group Inc. purchased a new stake in GSR IV Acquisition during the fourth quarter worth about $1,948,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of GSR IV Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, GSR IV Acquisition has a consensus rating of “Sell”.

GSR IV Acquisition Price Performance

Shares of GSRF stock opened at $10.18 on Wednesday. The firm has a 50 day simple moving average of $10.16. GSR IV Acquisition Corp. has a 52 week low of $9.96 and a 52 week high of $10.20.

About GSR IV Acquisition

GSR IV Acquisition Corp (NASDAQ: GSRF) is a special purpose acquisition company (SPAC) — a publicly listed blank‑check vehicle formed to raise capital through an initial public offering for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a SPAC, GSR IV does not operate a traditional commercial business or sell products and services; its principal activities are sourcing potential targets, negotiating a business combination and managing proceeds held in a trust account pending completion of a transaction.

The company’s typical operating functions include maintaining the funds raised in the IPO in a trust or escrow account, performing due diligence on candidate targets, structuring acquisition and financing arrangements (which may include private investment in public equity, or PIPE, commitments), and completing a de‑SPAC transaction that brings a private operating company public through the merger process.