Clear Street Group Inc. cut its position in Pioneer Acquisition I Corp. (NASDAQ:PACH – Free Report) by 56.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 318,445 shares of the company’s stock after selling 404,615 shares during the quarter. Clear Street Group Inc.’s holdings in Pioneer Acquisition I were worth $3,200,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Westchester Capital Management LLC lifted its position in Pioneer Acquisition I by 532.4% in the 4th quarter. Westchester Capital Management LLC now owns 408,612 shares of the company’s stock valued at $4,111,000 after purchasing an additional 344,000 shares during the last quarter. DLD Asset Management LP bought a new stake in Pioneer Acquisition I in the 4th quarter valued at about $1,284,000. L1 Global Manager Pty Ltd bought a new stake in Pioneer Acquisition I in the 4th quarter valued at about $245,000. Mint Tower Capital Management B.V. bought a new stake in Pioneer Acquisition I in the 4th quarter valued at about $4,020,000. Finally, MMCAP International Inc. SPC acquired a new position in Pioneer Acquisition I during the 4th quarter valued at about $7,538,000.
Analysts Set New Price Targets
Separately, Weiss Ratings raised shares of Pioneer Acquisition I from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.
Pioneer Acquisition I Price Performance
Pioneer Acquisition I stock opened at $10.24 on Friday. The company’s 50-day moving average price is $10.19 and its two-hundred day moving average price is $10.14. Pioneer Acquisition I Corp. has a 52 week low of $9.94 and a 52 week high of $10.25.
Pioneer Acquisition I Company Profile
Pioneer Acquisition I (NASDAQ: PACH) is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.
As a SPAC, Pioneer Acquisition I’s activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.
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