PNC Financial Services Group Inc. Acquires New Position in GigCapital7 Corp. (NASDAQ:GIG)

Key Points

• PNC Financial Services Group Inc. has acquired 75,200 shares of GigCapital7 Corp. valued at approximately $761,000, representing a 0.23% ownership stake in the company.
• In addition to PNC, multiple institutional investors including Toronto Dominion Bank and Bulldog Investors LLP have also made new stakes in GigCapital7, collectively contributing to a growing investment interest in the company.
• GigCapital7 Corp. recently reported earnings of $0.05 per share for the latest quarter, highlighting its status as a blank check company aiming for merger or acquisition opportunities.

PNC Financial Services Group Inc. bought a new stake in GigCapital7 Corp. (NASDAQ:GIG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 75,200 shares of the company's stock, valued at approximately $761,000. PNC Financial Services Group Inc. owned about 0.23% of GigCapital7 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Toronto Dominion Bank bought a new position in shares of GigCapital7 during the fourth quarter worth approximately $463,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of GigCapital7 in the fourth quarter valued at approximately $750,000. Centiva Capital LP acquired a new stake in GigCapital7 during the fourth quarter worth approximately $3,000,000. Bulldog Investors LLP acquired a new stake in GigCapital7 during the fourth quarter worth approximately $3,580,000. Finally, Berkley W R Corp grew its position in GigCapital7 by 46.0% during the fourth quarter. Berkley W R Corp now owns 397,066 shares of the company's stock worth $3,971,000 after buying an additional 125,108 shares in the last quarter.

GigCapital7 Trading Up 0.2%

NASDAQ:GIG traded up $0.02 during trading hours on Wednesday, reaching $10.37. 1,598 shares of the company were exchanged, compared to its average volume of 147,962. GigCapital7 Corp. has a 1-year low of $9.89 and a 1-year high of $10.43. The business has a 50 day moving average of $10.37 and a 200 day moving average of $10.23.

GigCapital7 (NASDAQ:GIG - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter.

About GigCapital7

GigCapital7 Corp. is a blank check company or special purpose acquisition company. It was formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded by Avishay S.