Ramius Advisors LLC bought a new position in shares of Switchback II Co. (NYSE:SWBK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 417,977 shares of the company’s stock, valued at approximately $4,134,000. Switchback II accounts for about 1.6% of Ramius Advisors LLC’s holdings, making the stock its 10th largest holding.
Several other hedge funds have also recently added to or reduced their stakes in SWBK. Wolverine Asset Management LLC acquired a new position in Switchback II in the first quarter valued at approximately $58,000. Berkley W R Corp acquired a new position in Switchback II in the first quarter valued at approximately $98,000. Levin Capital Strategies L.P. acquired a new position in Switchback II in the second quarter valued at approximately $99,000. LNZ Capital LP acquired a new position in Switchback II in the first quarter valued at approximately $28,000. Finally, Marathon Trading Investment Management LLC acquired a new position in Switchback II in the first quarter valued at approximately $162,000. Hedge funds and other institutional investors own 67.28% of the company’s stock.
Separately, Capital One Financial began coverage on Switchback II in a report on Monday, August 30th. They issued an “overweight” rating for the company.
About Switchback II
Switchback II Corporation focuses on effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was founded in 2020 and is based in Dallas, Texas.
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