Rivernorth Capital Management LLC Makes New $3.02 Million Investment in Lake Superior Acquisition Corp $LKSP

Rivernorth Capital Management LLC acquired a new position in shares of Lake Superior Acquisition Corp (NASDAQ:LKSP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 299,992 shares of the company’s stock, valued at approximately $3,015,000.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Arbitrage LLC acquired a new position in shares of Lake Superior Acquisition in the fourth quarter valued at $5,414,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Lake Superior Acquisition during the fourth quarter worth $4,970,000. Aristeia Capital L.L.C. acquired a new stake in Lake Superior Acquisition during the fourth quarter worth $4,166,000. Polar Asset Management Partners Inc. bought a new stake in Lake Superior Acquisition in the 4th quarter valued at $4,171,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Lake Superior Acquisition in the 4th quarter valued at $4,175,000.

Lake Superior Acquisition Price Performance

Shares of LKSP opened at $10.17 on Wednesday. Lake Superior Acquisition Corp has a 1 year low of $9.89 and a 1 year high of $10.17. The stock has a 50 day moving average of $10.14.

Lake Superior Acquisition (NASDAQ:LKSP) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.04 EPS for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Lake Superior Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Lake Superior Acquisition Company Profile

Lake Superior Acquisition Corp. (NASDAQ: LKSP) is a special purpose acquisition company (SPAC) formed to identify, acquire or merge with one or more businesses. As a blank‑check vehicle, its principal purpose is to raise capital in the public markets and use those proceeds, typically held in trust, to complete a business combination that delivers an operating company to public investors.

The company’s primary activities center on sourcing, negotiating and consummating an initial business combination.