Well, this is curious.
Saba Capiral bought DWAC today (Trump's Digital World Acquisition Corp.) [stock, presumably] after originally dumping it in a fire storm of "wokeness" upon its initial launch.
What gives?
Today
Saba Capital Management, L.P. Buys Digital World Acquisition Corp, Mudrick Capital Acquisition …
insider
Thu, December 9, 2021, 6:38 PM·11
https://finance.yahoo.com/news/saba-capital-management-l-p-023803256.html
October
>>102954, >>102804 pb
Hedge fund saba capital quickly dumped all of its unrestricted shares in the SPAC set to merge with Trump's media company, citing conflicting 'values' - and missed most of a 357% surge
Shares of Digital World Acquisition, the SPAC that plans to merge with Donald Trump's newly-announced media company, soared more than 300% on Thursday.
But one hedge fund that was already invested in the SPAC prior to the deal announcement sold its more than two million shares shortly after the deal was announced, citing a conflict in values. saba capital, a $3.5 billion hedge fund run by Boaz Weinstein, told the New York Times that after learning of the Trump deal, his firm sold most of its stake in Digital World in the early morning. saba capital owned 2.4 million shares of Digital World, and likely owned public warrants in the SPAC, which soared more than 2,000% on Thursday.
"Many investors are grappling with hard questions about how to incorporate their values into their work," Weinstein said. "For us, this was not a close call."
https://markets.businessinsider.com/news/stocks/digital-world-trump-spac-saba-capital-missed-gains-boaz-weinstein-2021-10