Wolverine Asset Management LLC Has $12.22 Million Stock Position in Melar Acquisition Corp. I (NASDAQ:MACI)

Key Points

• Wolverine Asset Management LLC significantly increased its holdings in Melar Acquisition Corp. I by 264.9% during Q1, owning a total of 1,194,001 shares valued at approximately $12.2 million.
• Several other institutional investors, including Toronto Dominion Bank and Hudson Bay Capital Management, also acquired positions in Melar Acquisition Corp. I, illustrating heightened interest from financial institutions.
• As of the most recent trading, shares of Melar Acquisition Corp. I opened at $10.47 with a one-year price range between $9.95 and $10.83.

Wolverine Asset Management LLC raised its stake in Melar Acquisition Corp. I (NASDAQ:MACI - Free Report) by 264.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,194,001 shares of the company's stock after purchasing an additional 866,829 shares during the period. Wolverine Asset Management LLC owned approximately 5.89% of Melar Acquisition Corp. I worth $12,215,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MACI. Toronto Dominion Bank bought a new stake in Melar Acquisition Corp. I in the 4th quarter valued at $152,000. Schonfeld Strategic Advisors LLC bought a new stake in Melar Acquisition Corp. I in the 4th quarter valued at $507,000. Bulldog Investors LLP bought a new stake in Melar Acquisition Corp. I in the 4th quarter valued at $1,512,000. Hudson Bay Capital Management LP bought a new stake in Melar Acquisition Corp. I in the 4th quarter valued at $3,270,000. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Melar Acquisition Corp. I by 35.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 576,328 shares of the company's stock valued at $5,809,000 after purchasing an additional 151,328 shares during the period.

Melar Acquisition Corp. I Price Performance

Melar Acquisition Corp. I stock remained flat at $10.48 during mid-day trading on Tuesday. 21,220 shares of the company's stock were exchanged, compared to its average volume of 84,174. Melar Acquisition Corp. I has a 12-month low of $9.95 and a 12-month high of $10.83. The stock's 50 day simple moving average is $10.49 and its 200 day simple moving average is $10.34.

Melar Acquisition Corp. I Company Profile

Melar Acquisition Corp. I is a blank check company. It formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Melar Acquisition Corp. I is based in NEW YORK.