Better Times Ahead For Trine Acquisition Corp. (NYSE: TRNE)?


    Glazer Capital LLC has recently announced that it has increased stake in Trine Acquisition Corp. (NYSE:TRNE) by 4.01%. After grabbing 2.18 million shares, the institutional investor is now in possession of 84103.0 shares of the Financial Company. The new investment brought the stake of investor firm to 7.26% having worth around $22.44 million. Moreover, Periscope Capital, Inc. increased its share by 0.36 million to have a control over 1.73 million shares. And W.R. Berkley Corp. (Investment Po.. raised its holdings to 0.22 million shares by acquiring 1.44 million shares or 4.80% of the stake.

    Trine Acquisition Corp. (TRNE) concluded trading on 08/26/20 at a closing price of $11.23, with 19.76 million shares of worth about $221.91 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 10.97% during that period and on Wednesday the price saw a gain of about 10.75%. Currently the company’s common shares owned by public are about 30.02M shares, out of which, 1.59M shares are available for trading.

    Marshall Wace UCITS Funds Plc – T, Lumyna Funds – Marshall Wace TOPS, and Highland Fds. I – NexPoint Merger are the top 3 mutual funds which are holding stakes in Trine Acquisition Corp. Marshall Wace UCITS Funds Plc – T is currently holding 61738.0 shares of worth totaling $0.64 million. The company recently came selling 64.0 shares which brought its stake up to 0.21% of the company’s outstanding shares. Highland Fds. I – NexPoint Merger, after buying 24516.0 shares, have now control over 0.08% of the stake in the company. It holds 4516.0 shares of worth $0.25 million.

    Trine Acquisition Corp. (NYSE: TRNE) started trading at $10.95, above $0.81 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $11.23, or with a gain of 10.75%. Stock saw a price change of 10.97% in past 5 days and over the past one month there was a price change of 7.36%. Year-to-date (YTD), TRNE shares are showing a performance of 12.53% which increased to 15.30% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.40 but also hit the highest price of $10.73 during that period. While comparing its average daily trading volume of 136.38K shares, we see that about 19.76 million changed hands on the day. The stock is currently trading 9.81% above its 20-day simple moving average (SMA20), while that difference is up 8.93% for SMA50 and it goes to 11.77% higher than SMA200.

    Glazer Capital LLC acquired 2.18 million shares of Trine Acquisition Corp. having value of about $22.44 million. Data submitted at the U.S SEC by Glazer Capital LLC revealed that the firm now holds 84103.0 shares in the company valued at close to $944476.69, or have control over 4.01% stake in the company. Trine Acquisition Corp. (NYSE: TRNE) currently have 30.02M outstanding shares and institutions hold larger chunk of about 79.62% of that. Holding of mutual funds in the company is about 0.42% while other institutional holders and individual stake holders have control over 82.28% and — of the stake respectively.

    The stock has a current market capitalization of $337.07M. It has posted earnings per share of -$0.21 in the same period. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TRNE, volatility over the week remained 1.86% while standing at 1.02% over the month.


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