Rivernorth Capital Management LLC Buys Shares of 475,489 GSR IV Acquisition Corp. $GSRF

Key Points

• Rivernorth Capital Management acquired 475,489 shares of GSR IV Acquisition Corp., worth approximately $4.77 million, giving it a 1.62% stake.
• Several other institutional investors, including Virtu Financial, StoneX Group, Boothbay Fund Management, and Clear Street Group, also opened positions in the SPAC.
• GSRF was trading near $10.18, close to its 52-week high, but analyst sentiment remained negative: Weiss Ratings upgraded it only from “sell (e+)” to “sell (d-),” while the consensus rating stayed at Sell.

Rivernorth Capital Management LLC purchased a new stake in GSR IV Acquisition Corp. (NASDAQ:GSRF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 475,489 shares of the company's stock, valued at approximately $4,769,000. Rivernorth Capital Management LLC owned 1.62% of GSR IV Acquisition at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GSRF. Bulldog Investors LLP acquired a new position in GSR IV Acquisition in the fourth quarter valued at approximately $114,000. Virtu Financial LLC purchased a new position in GSR IV Acquisition in the fourth quarter worth approximately $967,000. StoneX Group Inc. acquired a new stake in GSR IV Acquisition during the fourth quarter worth $1,324,000. Boothbay Fund Management LLC purchased a new stake in GSR IV Acquisition in the fourth quarter valued at $1,469,000. Finally, Clear Street Group Inc. purchased a new stake in GSR IV Acquisition in the fourth quarter valued at $1,948,000.

GSR IV Acquisition Trading Up 0.0%

GSR IV Acquisition stock opened at $10.18 on Wednesday. The company has a 50 day moving average of $10.16. GSR IV Acquisition Corp. has a 1 year low of $9.96 and a 1 year high of $10.20.

Analysts Set New Price Targets

Separately, Weiss Ratings raised GSR IV Acquisition from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Sell rating, According to MarketBeat, GSR IV Acquisition has a consensus rating of "Sell".

GSR IV Acquisition Company Profile

GSR IV Acquisition Corp NASDAQ: GSRF is a special purpose acquisition company (SPAC) — a publicly listed blank‑check vehicle formed to raise capital through an initial public offering for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a SPAC, GSR IV does not operate a traditional commercial business or sell products and services; its principal activities are sourcing potential targets, negotiating a business combination and managing proceeds held in a trust account pending completion of a transaction.

The company's typical operating functions include maintaining the funds raised in the IPO in a trust or escrow account, performing due diligence on candidate targets, structuring acquisition and financing arrangements (which may include private investment in public equity, or PIPE, commitments), and completing a de‑SPAC transaction that brings a private operating company public through the merger process.

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