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

Berkley W R Corp has announced a reduction in its position in AlphaVest Acquisition Corp (NASDAQ:ATMV - Free Report) by 17.4% during the third quarter, as revealed in its latest filing with the SEC. Following the sale of 72,627 shares during this period, the institutional investor now holds a total of 345,658 shares. At the conclusion of the previous quarter, Berkley W R Corp owned about 4.93% of AlphaVest Acquisition, valued at approximately $3,851,000.

In addition to Berkley W R Corp, several other hedge funds and institutional investors have recently adjusted their holdings in AlphaVest Acquisition. For instance, Cowen AND Company LLC increased its stake in AlphaVest Acquisition by 68.8% in the second quarter and currently owns 278,202 shares, valued at $3,069,000 after acquiring an additional 113,410 shares. Likewise, Spartan Fund Management Inc. made a new investment in AlphaVest Acquisition in the third quarter amounting to around $546,000.

Mizuho Securities USA LLC also expanded its position in the third quarter by 108.7%, bringing its total to 560,368 shares worth about $6,220,000 after acquiring an additional 291,908 shares. Moreover, Crossingbridge Advisors LLC bought a new stake worth approximately $3,087,000 and Glazer Capital LLC increased its stake by 16.1% during the same quarter, accumulating a total of 267,330 shares valued at $2,978,000. Collectively, hedge funds and other institutional investors own 46.08% of AlphaVest Acquisition’s stock.

AlphaVest Acquisition Stock Overview

As of Friday, NASDAQ ATMV traded at $11.25. The stock has witnessed a fifty-day simple moving average of $11.20 and a two-hundred-day simple moving average of $11.12. Over the past year, AlphaVest Acquisition Corp has recorded a low of $10.64 and a high of $11.25.

About AlphaVest Acquisition Corp

AlphaVest Acquisition Corp is a company that primarily focuses on effecting mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or related business combinations with one or more businesses. Established in 2022, it is based in New York, New York.

Investment Considerations

Before deciding to invest in AlphaVest Acquisition, potential investors may want to consider various opinions. As of now, analysts have assigned a 'Hold' rating to the stock, indicating that while it is not advised to sell, there may be better investment opportunities available in the market.

Berkley, Investment, Stocks