Bulldog Investors LLP cut its position in Avalon Acquisition Inc. (NASDAQ:AVAC – Get Rating) by 8.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,744 shares of the company's stock after selling 10,308 shares during the quarter. Bulldog Investors LLP's holdings in Avalon Acquisition were worth $1,156,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Kohlberg Kravis Roberts & Co. L.P. raised its stake in shares of Avalon Acquisition by 7.6% in the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 40,137 shares of the company's stock valued at $400,000 after buying an additional 2,850 shares during the period. Berkley W R Corp raised its stake in shares of Avalon Acquisition by 5.1% in the first quarter. Berkley W R Corp now owns 365,700 shares of the company's stock valued at $3,642,000 after buying an additional 17,880 shares during the period. State Street Corp bought a new stake in shares of Avalon Acquisition in the first quarter valued at $192,000. Spartan Fund Management Inc. bought a new stake in shares of Avalon Acquisition in the first quarter valued at $1,261,000. Finally, Rivernorth Capital Management LLC bought a new stake in shares of Avalon Acquisition in the first quarter valued at $7,470,000. 65.22% of the stock is currently owned by institutional investors.

Avalon Acquisition Price Performance

Shares of AVAC remained flat at $10.11 during mid-day trading on Friday. The company's stock had a trading volume of 50 shares, compared to its average volume of 7,922. The stock's 50 day moving average price is $10.07 and its two-hundred day moving average price is $10.02. Avalon Acquisition Inc. has a 52-week low of $9.83 and a 52-week high of $10.50.

About Avalon Acquisition

Avalon Acquisition Inc 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 in the financial services and financial technologies industries. The company was incorporated in 2020 and is based in San Francisco, California.

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