Magnetar Financial LLC Takes $10.06 Million Position in Pioneer Acquisition I Corp. $PACH

Magnetar Financial LLC acquired a new stake in Pioneer Acquisition I Corp. (NASDAQ:PACH) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,000,000 shares of the company’s stock, valued at approximately $10,060,000. Magnetar Financial LLC owned 3.16% of Pioneer Acquisition I at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Linden Advisors LP bought a new stake in shares of Pioneer Acquisition I in the third quarter valued at approximately $9,940,000. AQR Arbitrage LLC bought a new stake in shares of Pioneer Acquisition I in the third quarter valued at approximately $9,787,000. Two Sigma Investments LP bought a new stake in shares of Pioneer Acquisition I in the third quarter valued at approximately $7,927,000. MMCAP International Inc. SPC bought a new stake in shares of Pioneer Acquisition I in the fourth quarter valued at approximately $7,538,000. Finally, Clear Street Group Inc. bought a new stake in shares of Pioneer Acquisition I in the third quarter valued at approximately $7,202,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Pioneer Acquisition I from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Pioneer Acquisition I Stock Down 0.0%

Shares of PACH stock opened at $10.24 on Wednesday. Pioneer Acquisition I Corp. has a one year low of $9.94 and a one year high of $10.25. The stock has a fifty day moving average price of $10.20 and a 200 day moving average price of $10.14.

Pioneer Acquisition I Profile

Pioneer Acquisition I (NASDAQ: PACH) is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I’s activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.