Long Pond Capital LP bought a new stake in BowX Acquisition Corp. (NASDAQ:BOWX) in the first quarter, Holdings Channel reports. The fund bought 862,917 shares of the company’s stock, valued at approximately $10,079,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Sanders Morris Harris LLC acquired a new position in shares of BowX Acquisition in the 1st quarter worth approximately $128,000. GWM Advisors LLC acquired a new stake in shares of BowX Acquisition during the 1st quarter valued at $133,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of BowX Acquisition during the 1st quarter worth $181,000. Bank of New York Mellon Corp acquired a new position in shares of BowX Acquisition in the 1st quarter worth $183,000. Finally, Arnhold LLC acquired a new stake in shares of BowX Acquisition during the first quarter worth $193,000. 51.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:BOWX traded up $0.08 during midday trading on Friday, reaching $12.04. The company had a trading volume of 2,871 shares, compared to its average volume of 1,074,248. The company has a fifty day simple moving average of $12.32. BowX Acquisition Corp. has a 1-year low of $9.65 and a 1-year high of $13.93.
Bowx Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It primarily focuses on businesses in the technology, media, and telecommunications industries.
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