ACC takes advantage of beat-up Pumpkin Patch shares to lift stake to 9.2 percent
July 16 (BusinessDesk) – Accident Compensation Corp, the state-owned no-fault accident insurance scheme with more than $20 million of funds under management, has taken advantage of retailer Pumpkin Patch’s shares near an 18-month low to lift its holding to 9.2 percent.
ACC bought 500,000 shares in the children’s clothing chain on July 12 for about $411,000, or about 82 cents apiece. It had previously disclosed a holding of 7.9 percent.
The shares last traded at 82 cents and fell to 74.5 cents on June 28, the lowest since January last year,...
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