Saba Capital Management L.P. acquired a new position in shares of Burtech Acquisition Corp. (NASDAQ:BRKH – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,937,757 shares of the company's stock, valued at approximately $19,164,000. Saba Capital Management L.P. owned approximately 17.91% of Burtech Acquisition at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Context Capital Management LLC acquired a new stake in Burtech Acquisition during the first quarter worth approximately $10,385,000. Karpus Management Inc. acquired a new position in shares of Burtech Acquisition in the 1st quarter valued at $8,930,000. Highbridge Capital Management LLC acquired a new position in shares of Burtech Acquisition in the 1st quarter valued at $8,173,000. MMCAP International Inc. SPC acquired a new position in shares of Burtech Acquisition in the 1st quarter valued at $7,418,000. Finally, Starboard Value LP acquired a new position in shares of Burtech Acquisition in the 1st quarter valued at $6,540,000. Institutional investors and hedge funds own 36.12% of the company's stock.

Burtech Acquisition Stock Performance

NASDAQ:BRKH remained flat at $9.98 during midday trading on Thursday. 30 shares of the company were exchanged, compared to its average volume of 60,621. The company's 50-day simple moving average is $9.93. Burtech Acquisition Corp. has a 1 year low of $9.80 and a 1 year high of $9.99.

About Burtech Acquisition

Burtech Acquisition Corp. does not have significant operations. The company focuses to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire a business, which operates in the retail, lifestyle, hospitality, technology, and real estate markets.

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