Southport Acquisition Co. (NYSE:PORT) Shares Sold by Weiss Asset Management LP

Weiss Asset Management LP cut its holdings in Southport Acquisition Co. (NYSE:PORT – Get Rating) by 26.1% during the 3rd quarter, Holdings Channel reports. The firm owned 750,000 shares of the company’s stock after selling 264,669 shares during the period. Weiss Asset Management LP’s holdings in Southport Acquisition were worth $7,526,000 at the end of the most recent reporting period.

Separately, Cantor Fitzgerald L. P. grew its position in shares of Southport Acquisition by 63.4% in the third quarter. Cantor Fitzgerald L. P. now owns 322,770 shares of the company’s stock valued at $3,244,000 after purchasing an additional 125,200 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Southport Acquisition Stock Performance

PORT stock opened at $10.33 on Friday. The company’s 50 day simple moving average is $10.28 and its 200-day simple moving average is $10.13. Southport Acquisition Co. has a 12 month low of $9.86 and a 12 month high of $10.45.

Southport Acquisition Company Profile

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Southport Acquisition Corporation does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to identify business opportunities in the field of financial software space with a focus on mortgage and real estate verticals.