Polar Asset Management Partners Inc. Lowers Position in Pioneer Acquisition I Corp. $PACH

Polar Asset Management Partners Inc. lowered its holdings in Pioneer Acquisition I Corp. (NASDAQ:PACH) by 20.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 400,000 shares of the company’s stock after selling 100,000 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Pioneer Acquisition I were worth $4,052,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PenderFund Capital Management Ltd. bought a new position in shares of Pioneer Acquisition I in the fourth quarter worth approximately $175,000. L1 Global Manager Pty Ltd purchased a new stake in Pioneer Acquisition I in the fourth quarter valued at approximately $245,000. ABC Arbitrage SA bought a new stake in Pioneer Acquisition I during the fourth quarter valued at approximately $251,000. Stoic Point Capital Management LLC bought a new stake in Pioneer Acquisition I during the fourth quarter valued at approximately $339,000. Finally, Boothbay Fund Management LLC purchased a new position in Pioneer Acquisition I in the 3rd quarter worth approximately $830,000.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Pioneer Acquisition I from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Pioneer Acquisition I Stock Performance

NASDAQ PACH opened at $10.27 on Monday. The stock’s 50-day simple moving average is $10.24 and its two-hundred day simple moving average is $10.18. Pioneer Acquisition I Corp. has a twelve month low of $9.94 and a twelve month high of $10.29.

Pioneer Acquisition I (NASDAQ:PACH) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.06 earnings per share (EPS) for the quarter.

Pioneer Acquisition I Profile

Pioneer Acquisition I (NASDAQ: PACH) is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I’s activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.