TENOR CAPITAL MANAGEMENT Co. L.P. increased its stake in shares of Starboard Value Acquisition Corp. (NASDAQ:SVAC) by 75.0% during the 1st quarter, Holdings Channel reports. The fund owned 700,000 shares of the company’s stock after purchasing an additional 300,000 shares during the quarter. TENOR CAPITAL MANAGEMENT Co. L.P. owned approximately 0.06% of Starboard Value Acquisition worth $6,951,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Hudson Bay Capital Management LP acquired a new stake in Starboard Value Acquisition during the fourth quarter worth about $22,768,000. Weiss Asset Management LP boosted its position in Starboard Value Acquisition by 433.7% during the first quarter. Weiss Asset Management LP now owns 1,634,653 shares of the company’s stock worth $16,232,000 after purchasing an additional 1,328,357 shares in the last quarter. TIG Advisors LLC boosted its position in Starboard Value Acquisition by 496.6% during the first quarter. TIG Advisors LLC now owns 1,534,129 shares of the company’s stock worth $15,234,000 after purchasing an additional 1,276,983 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Starboard Value Acquisition during the fourth quarter worth approximately $11,327,000. Finally, Tuttle Tactical Management purchased a new position in Starboard Value Acquisition during the first quarter worth approximately $6,472,000.
SVAC stock traded down $0.02 during mid-day trading on Thursday, reaching $9.96. 5,487 shares of the company’s stock were exchanged, compared to its average volume of 481,375. The firm has a 50 day moving average of $9.98. Starboard Value Acquisition Corp. has a 12-month low of $9.65 and a 12-month high of $12.00.
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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