Kingstown Capital Management L.P. acquired a new stake in shares of Provident Acquisition Corp. (NASDAQ:PAQC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 300,000 shares of the company’s stock, valued at approximately $2,931,000. Kingstown Capital Management L.P. owned about 1.20% of Provident Acquisition as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. UBS Group AG bought a new stake in shares of Provident Acquisition during the 1st quarter valued at about $25,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Provident Acquisition during the 1st quarter valued at about $98,000. Schonfeld Strategic Advisors LLC bought a new position in Provident Acquisition in the 1st quarter worth about $144,000. Centerbridge Partners L.P. bought a new position in Provident Acquisition in the 1st quarter worth about $368,000. Finally, CNH Partners LLC bought a new position in Provident Acquisition in the 1st quarter worth about $401,000. 24.56% of the stock is owned by institutional investors and hedge funds.
NASDAQ PAQC traded down $0.01 on Thursday, hitting $9.67. The stock had a trading volume of 4,261 shares, compared to its average volume of 53,950. Provident Acquisition Corp. has a one year low of $9.52 and a one year high of $10.37. The firm’s 50-day simple moving average is $9.68.
Provident Acquisition Profile
Provident Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Central, Hong Kong.
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