Glazer Capital LLC recently announced the acquisition of new stake in Pyrophyte Acquisition Corp. (NYSE:PHYT). The institutional investor has increased its shareholding in the Financial company by 0.31% to 1.0 million shares with purchase of 3043.0 shares. This fresh investment now brings its stake to 4.95% valued currently at $10.21 million. In addition, Periscope Capital, Inc. raised its holdings by 72061.0 to 0.86 million shares. And Weiss Asset Management LP has lifted its position by 105.00% or 0.32 million shares – to 0.61 million shares.
With over 1.59 million Pyrophyte Acquisition Corp. (PHYT) shares trading Tuesday and a closing price of $10.36 on the day, the dollar volume was approximately $16.47 million. Currently, there are 25.16M common shares owned by the public and among those 15.09M shares have been available to trade.
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The top 3 mutual fund holders in Pyrophyte Acquisition Corp. are Merger Fund, First Trust Merger Arbitrage Fund, and Calamos Market Neutral Income Fun. Merger Fund owns 0.44 million shares of the company’s stock, all valued at over $4.5 million. First Trust Merger Arbitrage Fund bought 25381.0 shares to see its total holdings expand to 0.12 million shares valued at over $1.23 million and representing 0.60% of the shares outstanding. Calamos Market Neutral Income Fun bought 100000.0 shares to bring its total holdings to over 100000.0 shares at a value of $1.02 million. Calamos Market Neutral Income Fun now owns shares totaling to 0.50% of the shares outstanding.
Shares of Pyrophyte Acquisition Corp. (NYSE: PHYT) opened at $10.365, up $0.01 from a prior closing price of $10.36. The company’s stock has a 5-day price change of 0.10% and 2.27% over the past three months. It has a 12-month low price of $9.86 and touched a high of $10.48 over the same period. PHYT has an average intraday trading volume of 51.98K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.55%, 1.25%, and 2.80% respectively.
Institutional ownership of Pyrophyte Acquisition Corp. (NYSE: PHYT) shares accounts for 93.20% of the company’s 25.16M shares outstanding. Mutual fund holders own 3.61%, while other institutional holders and individual stakeholders account for 88.23% and — respectively.
It has a market capitalization of $260.45M. The stock’s trailing 12-month PE ratio is 17.47, while the earnings-per-share (ttm) stands at $0.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.12% over the week and 0.07% over the month.
