Castle Creek Arbitrage LLC Buys New Stake in Revolution Acceleration Acquisition Corp (NASDAQ:RAAC)

Castle Creek Arbitrage LLC bought a new stake in Revolution Acceleration Acquisition Corp (NASDAQ:RAAC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,055,619 shares of the company’s stock, valued at approximately $10,704,000. Castle Creek Arbitrage LLC owned approximately 2.75% of Revolution Acceleration Acquisition as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Suvretta Capital Management LLC purchased a new stake in Revolution Acceleration Acquisition in the 1st quarter valued at approximately $25,350,000. Weiss Asset Management LP purchased a new stake in Revolution Acceleration Acquisition in the 1st quarter valued at approximately $16,238,000. Governors Lane LP purchased a new stake in Revolution Acceleration Acquisition in the 1st quarter valued at approximately $12,506,000. BlueCrest Capital Management Ltd purchased a new stake in Revolution Acceleration Acquisition in the 1st quarter valued at approximately $9,383,000. Finally, HBK Investments L P purchased a new stake in Revolution Acceleration Acquisition in the 1st quarter valued at approximately $5,577,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Craig Hallum assumed coverage on Revolution Acceleration Acquisition in a research note on Thursday, July 8th. They issued a “buy” rating and a $15.00 target price on the stock.

Shares of Revolution Acceleration Acquisition stock traded up $0.37 during trading hours on Thursday, reaching $9.30. 174,787 shares of the company’s stock were exchanged, compared to its average volume of 362,675. Revolution Acceleration Acquisition Corp has a 52-week low of $8.50 and a 52-week high of $13.45. The company’s fifty day moving average is $9.86.

Revolution Acceleration Acquisition Profile

Revolution Acceleration Acquisition Corp does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was formerly known as Acceleration Acquisition Corporation and changed its name to Revolution Acceleration Acquisition Corp in November 2020.

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Institutional Ownership by Quarter for Revolution Acceleration Acquisition (NASDAQ:RAAC)

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