A quantitative finance firm that uses machine learning to create market-neutral equity portfolios and seek profit from the market greatly increased its stake in Gray Television during the fourth quarter of 2023, a fresh SEC filing shows.
A Form 13F filing shows Trexquant Investment LP hiked its equity interest in the broadcast TV station owner by 726.1% in the last three months of 2023.
The firm owned 89,454 shares of the company’s stock after purchasing an additional 78,626 shares during the quarter.
What does this mean? Trexquant Investment LP owned approximately 0.09% of Gray Television worth $802,000 at the end of the most recent quarter.
That’s a far cry from what the top institutional holders of “GTN” own. Blackrock Inc., the biggest institutional holder, as of the end of Q1 2024 held 7.03 million shares.
