Glazer Capital LLC recently announced the acquisition of new stake in Spartan Energy Acquisition Corp. (NYSE:SPAQ). The institutional investor has increased its shareholding in the Financial company by 39.09% to 5.43 million shares with purchase of 1.53 million shares. This fresh investment now brings its stake to 9.85% valued currently at $58.26 million. In addition, Adage Capital Management LP raised its holdings by 0.2 million to 4.95 million shares. And Millennium Management LLC has lifted its position by 668.13% or 2.62 million shares – to 3.01 million shares.
With over 17.22 million Spartan Energy Acquisition Corp. (SPAQ) shares trading Friday and a closing price of $15.45 on the day, the dollar volume was approximately $266.0 million. The shares have shown a negative weekly performance of -7.49% and its price on 07/17/20 gained nearly 12.77%. Currently, there are 55.20M common shares owned by the public and among those 44.81M shares have been available to trade.
Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 1,490,407 shares.
The top 3 mutual fund holders in Spartan Energy Acquisition Corp. are Westchester Capital Merger Fund, AQR Diversified Arbitrage Fund, and Special Opportunities Fund, Inc. Westchester Capital Merger Fund owns 0.68 million shares of the company’s stock, all valued at over $7.34 million. The company bought an additional 24730.0 shares recently to bring their total holdings to about 1.24% of the shares outstanding. Special Opportunities Fund, Inc. bought 50000.0 shares to bring its total holdings to over 50000.0 shares at a value of $0.54 million. Special Opportunities Fund, Inc. now owns shares totaling to 0.09% of the shares outstanding.
Shares of Spartan Energy Acquisition Corp. (NYSE: SPAQ) opened at $14.14, up $0.44 from a prior closing price of $13.70. However, the script later closed the day at $15.45, up 12.77%. The company’s stock has a 5-day price change of -7.49% and 51.92% over the past three months. SPAQ shares are trading 51.95% year to date (YTD), with the 12-month market performance up to 56.53% higher. It has a 12-month low price of $9.75 and touched a high of $21.60 over the same period. Currently, 17.22 million shares have been traded, compared to an average intraday trading volume of 3.40 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 30.02%, 41.66%, and 49.83% respectively.
Institutional ownership of Spartan Energy Acquisition Corp. (NYSE: SPAQ) shares accounts for 71.41% of the company’s 55.20M shares outstanding. Mutual fund holders own 77.40%, while other institutional holders and individual stakeholders account for 9.85% and 1.66% respectively.
It has a market capitalization of $852.84M. The stock’s trailing 12-month PE ratio is 105.82, while the earnings-per-share (ttm) stands at $0.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 19.08% over the week and 8.32% over the month.