Graf Industrial (NASDAQ:GRAF) was the recipient of unusually large options trading on Thursday. Stock traders acquired 5,140 call options on the company. This represents an increase of approximately 20,460% compared to the typical volume of 25 call options.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC boosted its holdings in Graf Industrial by 2,646.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 8,238 shares of the company’s stock worth $114,000 after acquiring an additional 7,938 shares during the period. National Asset Management Inc. purchased a new position in Graf Industrial in the 2nd quarter worth approximately $223,000. California Public Employees Retirement System boosted its holdings in Graf Industrial by 182.4% in the 2nd quarter. California Public Employees Retirement System now owns 49,700 shares of the company’s stock worth $691,000 after acquiring an additional 32,100 shares during the period. Point72 Asset Management L.P. purchased a new position in Graf Industrial in the 2nd quarter worth approximately $473,000. Finally, Water Island Capital LLC purchased a new position in Graf Industrial in the 2nd quarter worth approximately $3,476,000.
NASDAQ GRAF traded up $0.33 on Thursday, reaching $24.75. The company had a trading volume of 2,625,896 shares, compared to its average volume of 605,115. Graf Industrial has a 1 year low of $9.87 and a 1 year high of $32.50. The firm’s 50-day moving average is $22.21.
Graf Industrial Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with industrial companies in diversified industrial manufacturing, technology, distribution, and service businesses in the United States and Canada.
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