Ayrton Capital LLC bought a new stake in shares of Finnovate Acquisition Corp. (NASDAQ:FNVT – Get Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the company's stock, valued at approximately $991,000.

A number of other institutional investors have also recently modified their holdings of the stock. Saba Capital Management L.P. bought a new stake in shares of Finnovate Acquisition during the 4th quarter worth $12,995,000. Cubist Systematic Strategies LLC bought a new stake in shares of Finnovate Acquisition during the 4th quarter worth $8,154,000. Context Capital Management LLC bought a new stake in shares of Finnovate Acquisition during the 1st quarter worth $3,469,000. Oaktree Capital Management LP acquired a new position in Finnovate Acquisition in the 4th quarter worth about $2,173,000. Finally, Wolverine Asset Management LLC acquired a new position in Finnovate Acquisition in the 4th quarter worth about $2,001,000. 61.71% of the stock is currently owned by institutional investors.

Finnovate Acquisition Trading Down 0.1 %

Shares of FNVT stock traded down $0.01 on Friday, hitting $10.04. The company had a trading volume of 216 shares, compared to its average volume of 54,309. The stock's 50-day moving average is $9.99 and its two-hundred day moving average is $9.95. Finnovate Acquisition Corp. has a twelve month low of $9.75 and a twelve month high of $10.67.

Finnovate Acquisition Company 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 acquire Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service (FAAS), banking as a service (BAAS), cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.

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