Riverview Acquisition Corp. (NASDAQ:RVAC) Sees Significant Decline in Short Interest

Riverview Acquisition Corp. (NASDAQ:RVACGet Rating) was the target of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 36,700 shares, a decrease of 37.5% from the May 15th total of 58,700 shares. Based on an average trading volume of 132,800 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s shares are sold short.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE acquired a new position in shares of Riverview Acquisition during the first quarter valued at $57,000. Verition Fund Management LLC increased its holdings in Riverview Acquisition by 0.6% in the first quarter. Verition Fund Management LLC now owns 256,233 shares of the company’s stock valued at $2,506,000 after purchasing an additional 1,549 shares during the last quarter. Saba Capital Management L.P. increased its holdings in Riverview Acquisition by 43.2% in the first quarter. Saba Capital Management L.P. now owns 762,257 shares of the company’s stock valued at $7,455,000 after purchasing an additional 230,100 shares during the last quarter. Kohlberg Kravis Roberts & Co. L.P. increased its holdings in Riverview Acquisition by 45.7% in the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 35,510 shares of the company’s stock valued at $347,000 after purchasing an additional 11,134 shares during the last quarter. Finally, Blackstone Inc. bought a new stake in Riverview Acquisition in the first quarter valued at about $440,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of RVAC opened at $9.87 on Monday. Riverview Acquisition has a 12-month low of $9.64 and a 12-month high of $10.41. The stock’s fifty day simple moving average is $9.92 and its 200-day simple moving average is $9.81.

Riverview Acquisition Company Profile (Get Rating)

Riverview Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on consumer-focused enterprises comprising e-commerce, energy services and renewables, and insurance and financial services sectors.

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