Westchester Capital Management LLC Invests $8.19 Million in DiamondHead Holdings Corp. (NASDAQ:DHHC)

Westchester Capital Management LLC purchased a new position in shares of DiamondHead Holdings Corp. (NASDAQ:DHHC – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 830,112 shares of the company’s stock, valued at approximately $8,194,000. Westchester Capital Management LLC owned 1.92% of DiamondHead as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Berkley W R Corp acquired a new stake in shares of DiamondHead during the 1st quarter worth about $96,000. Flow Traders U.S. LLC acquired a new stake in shares of DiamondHead during the 3rd quarter worth about $100,000. Cubist Systematic Strategies LLC acquired a new stake in shares of DiamondHead during the 2nd quarter worth about $120,000. Two Sigma Investments LP acquired a new stake in shares of DiamondHead during the 3rd quarter worth about $167,000. Finally, OTA Financial Group L.P. acquired a new stake in shares of DiamondHead during the 3rd quarter worth about $235,000. Hedge funds and other institutional investors own 74.00% of the company’s stock.

DiamondHead Price Performance

Shares of NASDAQ:DHHC opened at $10.09 on Thursday. The business has a 50-day moving average price of $10.13 and a 200 day moving average price of $10.00. DiamondHead Holdings Corp. has a 12-month low of $9.77 and a 12-month high of $11.00.

Insider Buying and Selling at DiamondHead

In other news, CEO David T. Hamamoto bought 87,744 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was bought at an average cost of $10.09 per share, with a total value of $885,336.96. Following the transaction, the chief executive officer now directly owns 1,087,744 shares in the company, valued at approximately $10,975,336.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO David T. Hamamoto bought 87,744 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was bought at an average cost of $10.09 per share, with a total value of $885,336.96. Following the transaction, the chief executive officer now directly owns 1,087,744 shares in the company, valued at approximately $10,975,336.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David T. Hamamoto bought 1,000,000 shares of the company’s stock in a transaction on Thursday, January 12th. The stock was purchased at an average cost of $10.09 per share, with a total value of $10,090,000.00. Following the completion of the transaction, the chief executive officer now owns 1,000,000 shares in the company, valued at $10,090,000. The disclosure for this purchase can be found here. 20.00% of the stock is currently owned by corporate insiders.

DiamondHead Profile

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DiamondHead Holdings Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.