Periscope Capital Inc. Has $4.02 Million Holdings in Pioneer Acquisition I Corp. $PACH

Periscope Capital Inc. cut its holdings in Pioneer Acquisition I Corp. (NASDAQ:PACH) by 15.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 400,000 shares of the company’s stock after selling 75,000 shares during the quarter. Periscope Capital Inc. owned approximately 1.27% of Pioneer Acquisition I worth $4,020,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Linden Advisors LP acquired a new stake in Pioneer Acquisition I in the third quarter valued at about $9,940,000. AQR Arbitrage LLC acquired a new stake in Pioneer Acquisition I in the third quarter valued at about $9,787,000. Two Sigma Investments LP acquired a new stake in Pioneer Acquisition I in the third quarter valued at about $7,927,000. MMCAP International Inc. SPC acquired a new stake in shares of Pioneer Acquisition I during the fourth quarter valued at about $7,538,000. Finally, Clear Street Group Inc. acquired a new stake in shares of Pioneer Acquisition I during the third quarter valued at about $7,202,000.

Analyst Ratings Changes

Separately, Weiss Ratings raised Pioneer Acquisition I from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Pioneer Acquisition I Price Performance

Shares of PACH stock opened at $10.21 on Friday. The business’s 50-day moving average price is $10.18 and its 200-day moving average price is $10.13. Pioneer Acquisition I Corp. has a 12 month low of $9.94 and a 12 month high of $10.22.

Pioneer Acquisition I Profile

Pioneer Acquisition I (NASDAQ: PACH) is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I’s activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.