Periscope Capital Inc. Invests $2.77 Million in GP-Act III Acquisition Corp. (NASDAQ:GPAT)

Periscope Capital Inc. acquired a new stake in GP-Act III Acquisition Corp. (NASDAQ:GPAT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 275,000 shares of the company’s stock, valued at approximately $2,772,000. GP-Act III Acquisition comprises approximately 1.5% of Periscope Capital Inc.’s investment portfolio, making the stock its 20th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC acquired a new position in shares of GP-Act III Acquisition during the 3rd quarter worth about $2,894,000. Wealthspring Capital LLC acquired a new position in GP-Act III Acquisition during the third quarter valued at approximately $2,560,000. PNC Financial Services Group Inc. acquired a new position in GP-Act III Acquisition during the third quarter valued at approximately $1,613,000. Finally, Dakota Wealth Management acquired a new stake in GP-Act III Acquisition in the third quarter worth $488,000.

GP-Act III Acquisition Trading Down 0.1 %

Shares of NASDAQ GPAT opened at $10.08 on Friday. GP-Act III Acquisition Corp. has a twelve month low of $9.98 and a twelve month high of $10.10. The stock’s fifty day moving average price is $10.07.

About GP-Act III Acquisition

We are a blank check company incorporated as a Cayman Islands exempted company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination.