Verition Fund Management LLC Takes Position in Finnovate Acquisition Corp. (NASDAQ:FNVT)

Verition Fund Management LLC purchased a new stake in Finnovate Acquisition Corp. (NASDAQ:FNVTGet Rating) in the 1st quarter, HoldingsChannel reports. The fund purchased 212,600 shares of the company’s stock, valued at approximately $2,107,000.

Several other large investors have also added to or reduced their stakes in the business. Taconic Capital Advisors LP acquired a new stake in Finnovate Acquisition during the first quarter worth approximately $3,171,000. Spartan Fund Management Inc. acquired a new stake in Finnovate Acquisition in the first quarter valued at approximately $2,478,000. Royal Bank of Canada grew its stake in Finnovate Acquisition by 8.7% in the first quarter. Royal Bank of Canada now owns 47,337 shares of the company’s stock valued at $469,000 after acquiring an additional 3,800 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Finnovate Acquisition in the first quarter valued at approximately $2,973,000. Finally, Rivernorth Capital Management LLC acquired a new stake in Finnovate Acquisition in the first quarter valued at approximately $1,237,000. Institutional investors and hedge funds own 61.71% of the company’s stock.

Finnovate Acquisition Price Performance

Shares of Finnovate Acquisition stock opened at $10.06 on Monday. Finnovate Acquisition Corp. has a 52 week low of $9.75 and a 52 week high of $10.67. The stock has a 50 day moving average price of $10.01 and a two-hundred day moving average price of $9.97.

Finnovate Acquisition Profile

(Get Rating)

Finnovate Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to acquire Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service (FAAS), banking as a service (BAAS), cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.

See Also

Want to see what other hedge funds are holding FNVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Finnovate Acquisition Corp. (NASDAQ:FNVTGet Rating).

Institutional Ownership by Quarter for Finnovate Acquisition (NASDAQ:FNVT)

Receive News & Ratings for Finnovate Acquisition Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finnovate Acquisition and related companies with MarketBeat.com's FREE daily email newsletter.