61% Stake of TOP Ships Inc. (TOPS) Maintained by Sovereign Holdings Inc.
Sovereign Holdings Inc.
stated that they own a 61% stake in TOP Ships Inc. (NASDAQ:TOPS) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Wednesday, August 9th. The investor owns 3,007,882 shares of the stock worth $4,090,720. The reporting parties listed on the disclosure included Family Trading Inc, Sovereign Holdings Inc, Epsilon Holdings Inc, Oscar Shipholding Ltd, Race Navigation Inc, Tankers Family Inc and The Lax Trust. The filing is available through EDGAR at this hyperlink.
Sovereign Holdings Inc.
provided the following explanation of their ownership:
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Shares of TOP Ships Inc. (NASDAQ TOPS) traded down 12.82% during midday trading on Wednesday, hitting $1.36. The stock had a trading volume of 1,713,313 shares. TOP Ships Inc. has a 12-month low of $0.16 and a 12-month high of $168.00. The stock’s market cap is $39440.00. The stock has a 50-day moving average price of $0.44 and a 200-day moving average price of $16.60.
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TOP Ships Company Profile
Top Ships Inc is an international provider of oil, petroleum products and chemicals transportation services. The Company owns and operates eco medium range (MR) tanker vessels focusing on the transportation of crude oil, petroleum products (clean and dirty) and bulk liquid chemicals. The Company’s fleet includes over two chartered-in 50,000 deadweight ton (dwt) product/chemical tankers vessels, the Motor Tanker (M/T) Stenaweco Energy and the M/T Stenaweco Evolution; approximately two 39,000 dwt product/chemical tankers vessels, the M/T Eco Fleet and the M/T Eco Revolution, and over two 50,000 dwt product/chemical tankers scheduled for delivery from Hyundai Dockyard.
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