Pegasus Digital Mobility Acquisition (NYSE:PGSS) Shares Down 7%

Pegasus Digital Mobility Acquisition Corp. (NYSE:PGSS) shares dropped 7% during mid-day trading on Wednesday . The stock traded as low as $10.39 and last traded at $10.60. Approximately 18,755 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 48,933 shares. The stock had previously closed at $11.40.

Pegasus Digital Mobility Acquisition Trading Down 7.0 %

The stock’s fifty day simple moving average is $11.24 and its two-hundred day simple moving average is $11.12.

Hedge Funds Weigh In On Pegasus Digital Mobility Acquisition

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in shares of Pegasus Digital Mobility Acquisition during the fourth quarter worth about $163,000. Susquehanna International Group LLP grew its position in shares of Pegasus Digital Mobility Acquisition by 48.9% during the fourth quarter. Susquehanna International Group LLP now owns 19,335 shares of the company’s stock worth $199,000 after acquiring an additional 6,346 shares during the last quarter. Spartan Fund Management Inc. bought a new position in shares of Pegasus Digital Mobility Acquisition during the fourth quarter worth about $398,000. Verition Fund Management LLC grew its position in shares of Pegasus Digital Mobility Acquisition by 4.6% during the fourth quarter. Verition Fund Management LLC now owns 46,461 shares of the company’s stock worth $478,000 after acquiring an additional 2,030 shares during the last quarter. Finally, K2 Principal Fund L.P. bought a new position in shares of Pegasus Digital Mobility Acquisition during the fourth quarter worth about $586,000. Institutional investors own 46.03% of the company’s stock.

Pegasus Digital Mobility Acquisition Company Profile

Pegasus Digital Mobility Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to identify potential business combination targets in the transportation sector.