RedBall Acquisition Corp. (NYSE:RBAC) shares saw unusually-strong trading volume on Thursday . Approximately 37,264 shares traded hands during mid-day trading, a decline of 93% from the previous session’s volume of 553,142 shares.The stock last traded at $9.89 and had previously closed at $9.89.
The stock’s 50 day moving average price is $9.80 and its two-hundred day moving average price is $9.85.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bloom Tree Partners LLC increased its stake in shares of RedBall Acquisition by 0.6% in the second quarter. Bloom Tree Partners LLC now owns 404,948 shares of the company’s stock worth $3,956,000 after acquiring an additional 2,312 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in RedBall Acquisition by 60.7% in the first quarter. Penserra Capital Management LLC now owns 30,697 shares of the company’s stock worth $305,000 after purchasing an additional 11,591 shares in the last quarter. Independent Advisor Alliance bought a new stake in RedBall Acquisition during the second quarter valued at about $115,000. Saba Capital Management L.P. bought a new stake in RedBall Acquisition during the first quarter valued at about $120,000. Finally, TownSquare Capital LLC bought a new stake in RedBall Acquisition during the first quarter valued at about $122,000. 59.77% of the stock is currently owned by institutional investors and hedge funds.
RedBall Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses. The company intends to focus on sports, media, and data analytics sectors.
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