Berkley W R Corp Reduces Stake in AlphaVest Acquisition Corp (NASDAQ:ATMV)

Berkley W R Corp has decreased its stake in AlphaVest Acquisition Corp (NASDAQ:ATMV) by 17.4% during the third quarter, as revealed in its latest filing with the SEC. Following this reduction, the institutional investor holds 345,658 shares of the company, after selling 72,627 shares during the quarter. At the close of this period, the value of Berkley W R Corp's holdings in AlphaVest was approximately $3,851,000, accounting for 4.93% of the company.

In addition to Berkley W R Corp, several other institutional investors have also adjusted their positions in AlphaVest Acquisition. Cowen AND Company LLC raised its stake by 68.8% in the second quarter, now owning 278,202 shares worth about $3,069,000 after acquiring an additional 113,410 shares during that time. Spartan Fund Management Inc. entered the picture in the third quarter with a new investment in AlphaVest, valued at around $546,000. Meanwhile, Mizuho Securities USA LLC significantly expanded its position by 108.7% in the third quarter, owning now 560,368 shares worth $6,220,000 after acquiring an additional 291,908 shares.

Crossingbridge Advisors LLC also established a new stake in AlphaVest worth approximately $3,087,000 during the third quarter. In a similar vein, Glazer Capital LLC increased its holdings by 16.1%, now owning 267,330 shares valued at $2,978,000 following the purchase of 37,067 additional shares. Collectively, hedge funds and other institutional investors own 46.08% of the stock.

AlphaVest Acquisition Stock Overview

The stock for AlphaVest Acquisition Corp was trading at $11.25 on Friday. It has a fifty-day simple moving average of $11.20 and a 200-day simple moving average of $11.12. Over the last twelve months, the stock has reached a low of $10.64 and a high of $11.25.

About AlphaVest Acquisition Corp

AlphaVest Acquisition Corp does not engage in significant operations. It primarily focuses on initiating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other business combinations with one or more businesses. The company was incorporated in 2022 and is located in New York, New York.

Berkley, Acquisition, Investment