Evolution Global Acquisition Corp $EVOX Shares Sold by Saba Capital Management L.P.

Key Points

• Saba Capital Management reduced its EVOX stake by 34.1% in the first quarter, selling 153,608 shares and retaining 296,392 shares worth approximately $2.96 million, or 1.06% of the company.
• Several institutional investors, including Whitebox Advisors, Sona Asset Management and Healthcare of Ontario Pension Plan, initiated new positions in Evolution Global Acquisition during the quarter.
• EVOX shares opened at $10.05 and remain near their 52-week range of $9.86 to $10.09. The company reported quarterly earnings of $0.06 per share, while its average analyst rating remains “Sell.”

Saba Capital Management L.P. decreased its holdings in Evolution Global Acquisition Corp (NASDAQ:EVOX - Free Report) by 34.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,392 shares of the company's stock after selling 153,608 shares during the period. Saba Capital Management L.P. owned about 1.06% of Evolution Global Acquisition worth $2,957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Whitebox Advisors LLC acquired a new position in Evolution Global Acquisition during the 1st quarter worth $2,988,000. Sona Asset Management US LLC purchased a new position in shares of Evolution Global Acquisition in the 1st quarter valued at about $4,996,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Evolution Global Acquisition during the first quarter worth about $3,992,000. DLD Asset Management LP purchased a new stake in shares of Evolution Global Acquisition during the first quarter worth approximately $996,000. Finally, Bulldog Investors LLP acquired a new stake in Evolution Global Acquisition in the first quarter valued at approximately $1,026,000.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Evolution Global Acquisition from a "sell (e)" rating to a "sell (e+)" rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Evolution Global Acquisition has an average rating of "Sell".

Evolution Global Acquisition Stock Performance

EVOX opened at $10.05 on Tuesday. The business's 50-day moving average price is $10.03. Evolution Global Acquisition Corp has a one year low of $9.86 and a one year high of $10.09.

Evolution Global Acquisition (NASDAQ:EVOX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.06 earnings per share for the quarter.

About Evolution Global Acquisition

Evolution Global Acquisition NASDAQ: EVOX is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank‑check company, its primary business purpose is to identify, negotiate and complete a business combination, merger or other acquisition that takes a target company public through the SPAC structure. The vehicle provides a means for investors to gain exposure to prospective private companies seeking public market access via a negotiated transaction with the sponsor.

SPACs like Evolution Global Acquisition typically raise capital in an initial public offering and hold funds in trust while they evaluate potential transaction opportunities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.