P Schoenfeld Asset Management LP acquired a new position in Atlantic Coastal Acquisition Corp. (NASDAQ:ACAH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 499,998 shares of the company’s stock, valued at approximately $4,830,000. P Schoenfeld Asset Management LP owned approximately 4.99% of Atlantic Coastal Acquisition at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ACAH. CVI Holdings LLC bought a new stake in Atlantic Coastal Acquisition during the second quarter valued at about $725,000. Segantii Capital Management Ltd bought a new stake in Atlantic Coastal Acquisition during the second quarter valued at about $966,000. Picton Mahoney Asset Management bought a new stake in Atlantic Coastal Acquisition during the second quarter valued at about $1,932,000. Finally, JPMorgan Chase & Co. bought a new stake in Atlantic Coastal Acquisition during the second quarter valued at about $5,388,000.
ACAH stock traded up $0.03 during mid-day trading on Monday, reaching $9.73. 200 shares of the stock traded hands, compared to its average volume of 39,589. Atlantic Coastal Acquisition Corp. has a 52 week low of $9.61 and a 52 week high of $9.99. The stock has a 50-day simple moving average of $9.66.
Atlantic Coastal Acquisition Corp. focuses on effecting a merger, capital stock 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 San Francisco, California.
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