Saba Capital Management L.P. Reduces Stock Position in Evolution Global Acquisition Corp $EVOX

Saba Capital Management L.P. reduced its position in Evolution Global Acquisition Corp (NASDAQ:EVOX) by 34.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 296,392 shares of the company’s stock after selling 153,608 shares during the period. Saba Capital Management L.P.’s holdings in Evolution Global Acquisition were worth $2,957,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank purchased a new position in shares of Evolution Global Acquisition in the fourth quarter valued at $38,000. Meteora Capital LLC purchased a new stake in shares of Evolution Global Acquisition in the 4th quarter worth about $49,000. ABC Arbitrage SA acquired a new stake in Evolution Global Acquisition in the 4th quarter valued at about $197,000. Geode Capital Management LLC acquired a new stake in Evolution Global Acquisition in the 4th quarter valued at about $250,000. Finally, ExodusPoint Capital Management LP purchased a new position in Evolution Global Acquisition during the 4th quarter valued at about $368,000.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Evolution Global Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Evolution Global Acquisition Price Performance

Shares of Evolution Global Acquisition stock opened at $10.05 on Tuesday. Evolution Global Acquisition Corp has a twelve month low of $9.86 and a twelve month high of $10.09. The business’s fifty day simple moving average is $10.03.

Evolution Global Acquisition (NASDAQ:EVOX) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.06 EPS for the quarter.

Evolution Global Acquisition Profile

Evolution Global Acquisition (NASDAQ:EVOX) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank‑check company, its primary business purpose is to identify, negotiate and complete a business combination, merger or other acquisition that takes a target company public through the SPAC structure. The vehicle provides a means for investors to gain exposure to prospective private companies seeking public market access via a negotiated transaction with the sponsor.

SPACs like Evolution Global Acquisition typically raise capital in an initial public offering and hold funds in trust while they evaluate potential transaction opportunities.