Rivernorth Capital Management LLC Purchases Shares of 494,517 StoneBridge Acquisition Co. $APAC

Rivernorth Capital Management LLC purchased a new position in shares of StoneBridge Acquisition Co. (NASDAQ:APAC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 494,517 shares of the company’s stock, valued at approximately $4,970,000. Rivernorth Capital Management LLC owned 6.14% of StoneBridge Acquisition as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of APAC. Wolverine Asset Management LLC acquired a new stake in StoneBridge Acquisition in the fourth quarter valued at $4,989,000. Glazer Capital LLC bought a new stake in shares of StoneBridge Acquisition in the 4th quarter valued at about $4,051,000. Clear Street Group Inc. bought a new stake in shares of StoneBridge Acquisition in the 4th quarter valued at about $3,216,000. AQR Arbitrage LLC acquired a new stake in shares of StoneBridge Acquisition in the fourth quarter valued at about $2,945,000. Finally, Toronto Dominion Bank bought a new position in shares of StoneBridge Acquisition during the fourth quarter worth about $2,657,000. Institutional investors own 19.18% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded StoneBridge Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

StoneBridge Acquisition Price Performance

Shares of APAC opened at $10.18 on Wednesday. The firm’s fifty day simple moving average is $10.15 and its two-hundred day simple moving average is $10.08. StoneBridge Acquisition Co. has a 12 month low of $9.87 and a 12 month high of $10.19.

StoneBridge Acquisition Profile

StoneBridge Acquisition Corporation does not have significant operations. It intends to effect a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar Business Combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.