2,500,000 Shares in Finnovate Acquisition Corp. (NASDAQ:FNVT) Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC bought a new position in Finnovate Acquisition Corp. (NASDAQ:FNVT) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,500,000 shares of the company’s stock, valued at approximately $28,900,000. Mizuho Securities USA LLC owned 37.26% of Finnovate Acquisition at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Clear Street LLC bought a new stake in shares of Finnovate Acquisition in the second quarter worth $50,000. K2 Principal Fund L.P. bought a new stake in shares of Finnovate Acquisition during the 1st quarter valued at about $2,248,000. Wolverine Asset Management LLC increased its position in shares of Finnovate Acquisition by 22.4% during the 2nd quarter. Wolverine Asset Management LLC now owns 210,762 shares of the company’s stock valued at $2,390,000 after purchasing an additional 38,509 shares during the last quarter. Finally, Berkley W R Corp increased its position in shares of Finnovate Acquisition by 63.6% during the 1st quarter. Berkley W R Corp now owns 667,767 shares of the company’s stock valued at $7,512,000 after purchasing an additional 259,643 shares during the last quarter. 45.92% of the stock is currently owned by hedge funds and other institutional investors.

Finnovate Acquisition Price Performance

FNVT opened at $11.62 on Friday. The company’s 50 day moving average is $11.59 and its 200 day moving average is $11.46. Finnovate Acquisition Corp. has a 12-month low of $10.98 and a 12-month high of $12.83.

Finnovate Acquisition Profile

Finnovate Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to focus on the acquisition of Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service, banking as a service, cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.