Saba Capital Management LP recently announced the acquisition of new stake in Pegasus Digital Mobility Acquisition Corp. (NYSE:PGSS). The institutional investor has increased its shareholding in the Financial company by 45.81% to 1.59 million shares with purchase of 0.5 million shares. This fresh investment now brings its stake to 7.07% valued currently at $16.36 million. In addition, HGC Investment Management, Inc. raised its holdings by 0.42 million to 1.07 million shares. And Shaolin Capital Management LLC has lifted its position by 14.59% or 0.14 million shares – to 1.06 million shares.
With over 0.64 million Pegasus Digital Mobility Acquisition Corp. (PGSS) shares trading Tuesday and a closing price of $10.34 on the day, the dollar volume was approximately $6.66 million. The shares have shown a positive half year performance of 4.71% and its price on 01/24/23 gained nearly 0.73%. Currently, there are 28.12M common shares owned by the public and among those 22.50M shares have been available to trade.
The top 3 mutual fund holders in Pegasus Digital Mobility Acquisition Corp. are Calamos Market Neutral Income Fun, Lumyna – MW TOPS UCITS Fund, and First Trust Merger Arbitrage Fund. Calamos Market Neutral Income Fun owns 0.92 million shares of the company’s stock, all valued at over $9.44 million. The company bought an additional 0.92 million shares recently to bring their total holdings to about 4.08% of the shares outstanding. First Trust Merger Arbitrage Fund bought 22.0 shares to bring its total holdings to over 76064.0 shares at a value of $0.78 million. First Trust Merger Arbitrage Fund now owns shares totaling to 0.34% of the shares outstanding.
Shares of Pegasus Digital Mobility Acquisition Corp. (NYSE: PGSS) opened at $10.33, up $0.07 from a prior closing price of $10.26. However, the script later moved the day high at 10.34, up 0.73%. The company’s stock has a 5-day price change of 0.83% and 3.35% over the past three months. It has a 12-month low price of $9.79 and touched a high of $10.77 over the same period. PGSS has an average intraday trading volume of 47.61K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.65%, 1.51%, and 3.54% respectively.
Institutional ownership of Pegasus Digital Mobility Acquisition Corp. (NYSE: PGSS) shares accounts for 97.20% of the company’s 28.12M shares outstanding. Mutual fund holders own 5.60%, while other institutional holders and individual stakeholders account for 83.91% and 19.44% respectively.
It has a market capitalization of $290.62M. The stock’s trailing 12-month PE ratio is 29.19, while the earnings-per-share (ttm) stands at $0.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.92% over the week and 1.09% over the month.