Rivernorth Capital Management LLC Acquires Shares of 300,000 Drugs Made In America Acquisition II Corp. $DMII

Rivernorth Capital Management LLC purchased a new position in shares of Drugs Made In America Acquisition II Corp. (NASDAQ:DMII) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 300,000 shares of the company’s stock, valued at approximately $2,991,000.

A number of other large investors have also recently added to or reduced their stakes in DMII. Sona Asset Management US LLC lifted its position in shares of Drugs Made In America Acquisition II by 66.7% in the 1st quarter. Sona Asset Management US LLC now owns 500,000 shares of the company’s stock worth $4,985,000 after buying an additional 200,000 shares during the last quarter. Kryger Capital LLC bought a new stake in shares of Drugs Made In America Acquisition II during the first quarter valued at about $3,088,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Drugs Made In America Acquisition II in the first quarter valued at approximately $19,960,000. Gabelli Funds LLC bought a new stake in shares of Drugs Made In America Acquisition II in the 1st quarter worth $1,609,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Drugs Made In America Acquisition II in the first quarter worth about $1,790,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Drugs Made In America Acquisition II from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings upgraded shares of Drugs Made In America Acquisition II from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Drugs Made In America Acquisition II has an average rating of “Sell”.

Drugs Made In America Acquisition II Price Performance

Drugs Made In America Acquisition II stock opened at $10.11 on Wednesday. Drugs Made In America Acquisition II Corp. has a fifty-two week low of $9.86 and a fifty-two week high of $10.20. The stock’s fifty day moving average price is $10.08.

Drugs Made In America Acquisition II Company Profile

Drugs Made In America Acquisition II (NASDAQ:DMII) is a special purpose acquisition company (SPAC) formed to raise capital through a public listing for the purpose of effecting a business combination. As a blank‑check vehicle, the company itself does not operate a traditional commercial business; instead, it seeks to identify, negotiate and complete an acquisition, merger, share exchange, asset purchase or similar business transaction with one or more target companies.

The stated investment focus reflected in the company’s name indicates an emphasis on the pharmaceutical and life sciences sector, with a particular interest in domestic drug manufacturing, supply‑chain resiliency and related healthcare operations in the United States.