1,000,000 Shares in Pioneer Acquisition I Corp. $PACH Bought by Magnetar Financial LLC

Magnetar Financial LLC bought a new position in Pioneer Acquisition I Corp. (NASDAQ:PACH) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,000,000 shares of the company’s stock, valued at approximately $10,060,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ATW Spac Management LLC bought a new position in shares of Pioneer Acquisition I during the third quarter valued at $831,000. Picton Mahoney Asset Management bought a new position in shares of Pioneer Acquisition I during the third quarter valued at $4,975,000. Mangrove Partners IM LLC bought a new position in shares of Pioneer Acquisition I during the third quarter valued at $4,482,000. Clear Street Group Inc. bought a new position in shares of Pioneer Acquisition I during the third quarter valued at $7,202,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of Pioneer Acquisition I during the third quarter valued at $2,485,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Pioneer Acquisition I from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Pioneer Acquisition I currently has a consensus rating of “Sell”.

Pioneer Acquisition I Price Performance

Shares of NASDAQ PACH opened at $10.24 on Wednesday. The business has a fifty day moving average of $10.20 and a two-hundred day moving average of $10.14. Pioneer Acquisition I Corp. has a 52-week low of $9.94 and a 52-week high of $10.25.

Pioneer Acquisition I Company Profile

Pioneer Acquisition I (NASDAQ: PACH) is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I’s activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.