Millennium Management LLC recently announced the acquisition of new stake in Trine II Acquisition Corp. (NYSE:TRAQ). The institutional investor has increased its shareholding in the Financial company by 7.81% to 2.09 million shares with purchase of 0.15 million shares. This fresh investment now brings its stake to 5.06% valued currently at $21.57 million. In addition, Highbridge Capital Management LLC raised its holdings by 1.02 million to 2.06 million shares. And Taconic Capital Advisors LP has lifted its position by 45.00% or 0.45 million shares – to 1.45 million shares.
With over 0.37 million Trine II Acquisition Corp. (TRAQ) shares trading Monday and a closing price of $10.33 on the day, the dollar volume was approximately $3.8 million. The shares have shown a positive half year performance of 4.24% and its price on 01/23/23 gained nearly 0.19%. Currently, there are 51.75M common shares owned by the public and among those 41.40M shares have been available to trade.
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The top 3 mutual fund holders in Trine II Acquisition Corp. are Calamos Market Neutral Income Fun, GAMCO International SICAV – Merge, and First Trust Merger Arbitrage Fund. Calamos Market Neutral Income Fun owns 1.49 million shares of the company’s stock, all valued at over $15.31 million. The company bought an additional 1.49 million shares recently to bring their total holdings to about 3.59% of the shares outstanding. First Trust Merger Arbitrage Fund now owns shares totaling to 0.60% of the shares outstanding.
Shares of Trine II Acquisition Corp. (NYSE: TRAQ) opened at $10.32, up $0.01 from a prior closing price of $10.31. However, the script later moved the day high at 10.35, up 0.19%. The company’s stock has a 5-day price change of 0.39% and 2.89% over the past three months. It has a 12-month low price of $9.80 and touched a high of $10.34 over the same period. TRAQ has an average intraday trading volume of 34.13K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.53%, 1.44%, and 3.19% respectively.
Institutional ownership of Trine II Acquisition Corp. (NYSE: TRAQ) shares accounts for 73.80% of the company’s 51.75M shares outstanding. Mutual fund holders own 5.95%, while other institutional holders and individual stakeholders account for 65.99% and — respectively.
It has a market capitalization of $534.58M. The stock’s trailing 12-month PE ratio is 22.65, while the earnings-per-share (ttm) stands at $0.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.18% over the week and 0.15% over the month.
