Wolverine Asset Management LLC Trims Stock Position in Finnovate Acquisition Corp. (NASDAQ:FNVT)

Wolverine Asset Management LLC lowered its holdings in Finnovate Acquisition Corp. (NASDAQ:FNVT - Free Report) by 63.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,572 shares of the company's stock after selling 87,101 shares during the quarter. Wolverine Asset Management LLC owned 0.56% of Finnovate Acquisition worth $560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spartan Fund Management Inc. purchased a new stake in Finnovate Acquisition during the third quarter worth $106,000. Shaolin Capital Management LLC boosted its holdings in Finnovate Acquisition by 174.2% during the third quarter. Shaolin Capital Management LLC now owns 240,000 shares of the company's stock worth $2,614,000 after buying an additional 563,300 shares in the last quarter. Periscope Capital Inc. boosted its holdings in Finnovate Acquisition by 7.0% during the third quarter. Periscope Capital Inc. now owns 348,236 shares of the company's stock worth $3,796,000 after buying an additional 22,815 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in Finnovate Acquisition by 17.9% during the third quarter. Mizuho Securities USA LLC now owns 631,280 shares of the company's stock valued at $6,830,000 after purchasing an additional 95,868 shares in the last quarter. Institutional investors and hedge funds own 45.92% of the company's stock.

Finnovate Acquisition Stock Performance

FNVT traded up $0.02 during midday trading on Friday, hitting $11.32. 10,313 shares of the company traded hands, compared to its average volume of 38,054. Finnovate Acquisition Corp. has a 52-week low of $10.43 and a 52-week high of $11.50. The business has a 50 day simple moving average of $11.23 and a two-hundred day simple moving average of $11.11.

Finnovate Acquisition Company Profile

Finnovate Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to focus on the acquisition of Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service, banking as a service, cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.