Hedge fund D.E. Shaw has sold its entire stake in the SPAC taking Donald Trump’s fledgling media company public, according to an SEC filing on Feb. 14. At one point the fund led by investor David Shaw owned 8% of Digital World Acquisition, or 2.4 million shares, according to a September 2021 SEC filing.
Shares of the SPAC soared as much as 1,225% in the second week of October on the announcement it had entered a merger agreement with Trump Media & Technology Group, Trump’s as-yet unlaunched media platform. Two other hedge funds, Lighthouse Investment Partners and Saba Capital Management, immediately sold their positions in the SPAC following the announcement of Trump’s involvement. Read more.
