Periscope Capital Inc. Makes New Investment in Drugs Made In America Acquisition II Corp. $DMII

Periscope Capital Inc. bought a new position in Drugs Made In America Acquisition II Corp. (NASDAQ:DMII) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 265,500 shares of the company’s stock, valued at approximately $2,628,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DMII. Deltec Asset Management LLC purchased a new stake in Drugs Made In America Acquisition II in the 4th quarter worth approximately $495,000. Wolverine Asset Management LLC purchased a new stake in Drugs Made In America Acquisition II in the 4th quarter worth approximately $10,521,000. ABC Arbitrage SA acquired a new position in shares of Drugs Made In America Acquisition II in the 4th quarter valued at $396,000. Wealthspring Capital LLC acquired a new position in shares of Drugs Made In America Acquisition II in the 4th quarter valued at $4,049,000. Finally, HighTower Advisors LLC acquired a new position in shares of Drugs Made In America Acquisition II in the 4th quarter valued at $7,817,000.

Drugs Made In America Acquisition II Trading Down 0.1%

Shares of DMII opened at $10.06 on Friday. The company has a fifty day moving average of $10.01. Drugs Made In America Acquisition II Corp. has a fifty-two week low of $9.86 and a fifty-two week high of $10.07.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Drugs Made In America Acquisition II from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings assumed coverage on shares of Drugs Made In America Acquisition II in a report on Monday, March 2nd. They issued a “sell (e)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Drugs Made In America Acquisition II Profile

Drugs Made In America Acquisition II (NASDAQ:DMII) is a special purpose acquisition company (SPAC) formed to raise capital through a public listing for the purpose of effecting a business combination. As a blank‑check vehicle, the company itself does not operate a traditional commercial business; instead, it seeks to identify, negotiate and complete an acquisition, merger, share exchange, asset purchase or similar business transaction with one or more target companies.

The stated investment focus reflected in the company’s name indicates an emphasis on the pharmaceutical and life sciences sector, with a particular interest in domestic drug manufacturing, supply‑chain resiliency and related healthcare operations in the United States.