Rivernorth Capital Management LLC bought a new position in GigInternational1, Inc. (NASDAQ:GIW – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 599,512 shares of the company’s stock, valued at approximately $5,977,000. Rivernorth Capital Management LLC owned 2.21% of GigInternational1 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in GIW. Quarry LP bought a new position in shares of GigInternational1 in the fourth quarter worth about $47,000. Geode Capital Management LLC purchased a new stake in GigInternational1 in the 4th quarter valued at about $193,000. Lineage Point Capital LP purchased a new stake in GigInternational1 in the 4th quarter valued at about $346,000. Stoic Point Capital Management LLC bought a new position in GigInternational1 in the 4th quarter worth about $391,000. Finally, ABC Arbitrage SA bought a new position in GigInternational1 in the 4th quarter worth about $396,000. 14.01% of the stock is owned by hedge funds and other institutional investors.
GigInternational1 Stock Performance
Shares of GigInternational1 stock opened at $10.10 on Wednesday. The stock’s fifty day moving average price is $10.07 and its 200-day moving average price is $10.02. GigInternational1, Inc. has a 12 month low of $9.87 and a 12 month high of $10.11.
Analyst Ratings Changes
Separately, Weiss Ratings raised shares of GigInternational1 from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.
Check Out Our Latest Stock Report on GIW
About GigInternational1
GigInternational1, Inc, does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to focus its search on companies in the technology, media, telecommunications, aerospace and defense, and mobility and semiconductor industries. The company was incorporated in 2021 and is based in Palo Alto, California.
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