PNC Financial Services Group Inc. Makes New $761,000 Investment 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. acquired a new stake in shares of GigCapital7 Corp. (NASDAQ:GIG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 75,200 shares of the company's stock, valued at approximately $761,000. PNC Financial Services Group Inc. owned 0.23% of GigCapital7 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Tabor Asset Management LP acquired a new position in GigCapital7 in the first quarter worth approximately $17,829,000. Westchester Capital Management LLC acquired a new position in GigCapital7 in the fourth quarter worth approximately $9,580,000. Calamos Advisors LLC acquired a new position in GigCapital7 in the first quarter worth approximately $9,407,000. Whitebox Advisors LLC acquired a new position in GigCapital7 in the fourth quarter worth approximately $7,600,000. Finally, Bulldog Investors LLP acquired a new position in GigCapital7 in the fourth quarter worth approximately $3,580,000.

GigCapital7 Trading Up 0.2%

GigCapital7 stock traded up $0.02 during mid-day trading on Friday, hitting $10.37. The company's stock had a trading volume of 11,739 shares, compared to its average volume of 134,655. GigCapital7 Corp. has a twelve month low of $9.89 and a twelve month high of $10.43. The stock's fifty day moving average price is $10.37 and its two-hundred day moving average price is $10.23.

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

GigCapital7 Company Profile

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.