Trailblazer Merger Corporation I (NASDAQ:TBMC) Shares Up 1.5% - What's Next?

Key Points

• Trailblazer Merger Corporation I saw its stock price increase by 1.5% to $11.78, despite a significant decline in trading volume of approximately 91% compared to its average daily volume.
• In the second quarter, several institutional investors, including Shay Capital LLC and Clear Street LLC, increased their stakes, indicating strong confidence in the company.
• 77.13% of Trailblazer Merger Corporation I's stock is owned by institutional investors and hedge funds, showcasing substantial institutional interest in the company.

Trailblazer Merger Corporation I (NASDAQ:TBMC - )'s stock price was up 1.5% during trading on Thursday . The stock traded as high as $11.71 and last traded at $11.78. Approximately 1,360 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 15,770 shares. The stock had previously closed at $11.61.

Trailblazer Merger Corporation I Price Performance

The company's fifty day simple moving average is $11.62 and its 200 day simple moving average is $11.60.

Hedge Funds Weigh In On Trailblazer Merger Corporation I

Several institutional investors and hedge funds have recently modified their holdings of the stock. Shay Capital LLC acquired a new position in shares of Trailblazer Merger Corporation I in the second quarter valued at $557,000. Clear Street LLC grew its stake in shares of Trailblazer Merger Corporation I by 503.7% in the second quarter. Clear Street LLC now owns 137,144 shares of the company's stock valued at $1,606,000 after acquiring an additional 114,426 shares in the last quarter. Mizuho Securities USA LLC grew its stake in shares of Trailblazer Merger Corporation I by 1.5% in the first quarter. Mizuho Securities USA LLC now owns 83,366 shares of the company's stock valued at $934,000 after acquiring an additional 1,201 shares in the last quarter. Wolverine Asset Management LLC grew its stake in shares of Trailblazer Merger Corporation I by 11.3% in the first quarter. Wolverine Asset Management LLC now owns 146,259 shares of the company's stock valued at $1,647,000 after acquiring an additional 14,851 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new position in shares of Trailblazer Merger Corporation I in the fourth quarter valued at about $2,671,000. 77.13% of the stock is currently owned by institutional investors and hedge funds.

Trailblazer Merger Corporation I Company Profile

Trailblazer Merger Corp. I is a blank check company, which engages in effecting a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization or other similar business combination. The company was founded on November 12, 2021 and is headquartered in New York, NY.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.