Marblegate Acquisition (NASDAQ:GATE) Shares Up 0.6%

Marblegate Acquisition Corp. (NASDAQ:GATE)’s share price shot up 0.6% during trading on Thursday . The company traded as high as $10.49 and last traded at $10.49. 5,107 shares changed hands during trading, an increase of 198% from the average session volume of 1,714 shares. The stock had previously closed at $10.43.

Marblegate Acquisition Stock Performance

The stock’s 50-day simple moving average is $10.45 and its 200 day simple moving average is $10.44.

Hedge Funds Weigh In On Marblegate Acquisition

A number of institutional investors and hedge funds have recently made changes to their positions in GATE. Goldman Sachs Group Inc. grew its stake in shares of Marblegate Acquisition by 6,590.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,175 shares of the company’s stock worth $11,467,000 after purchasing an additional 1,146,775 shares during the period. Parallax Volatility Advisers L.P. acquired a new position in shares of Marblegate Acquisition during the 2nd quarter worth $3,825,000. Cantor Fitzgerald L. P. acquired a new position in shares of Marblegate Acquisition during the 4th quarter worth $3,126,000. Bank of America Corp DE acquired a new position in shares of Marblegate Acquisition during the 1st quarter worth $2,462,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Marblegate Acquisition by 474.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 228,734 shares of the company’s stock worth $2,260,000 after purchasing an additional 188,883 shares during the period. 9.39% of the stock is owned by institutional investors and hedge funds.

About Marblegate Acquisition

Marblegate Acquisition Corp. does not have significant operations. It focuses on effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Rye, New York.