Ellis Lake Capital Lowers stake in Vringo (VRNG)

Vringo (VRNG) : Ellis Lake Capital reduced its stake in Vringo by 1.93% during the most recent quarter end. The investment management company now holds a total of 172,523 shares of Vringo which is valued at $326,068 after selling 3,403 shares in Vringo , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Vringo makes up approximately 100.00% of Ellis Lake Capital’s portfolio.

Vringo opened for trading at $1.91 and hit $2.05 on the upside on Monday, eventually ending the session at $1.94, with a gain of 2.65% or 0.05 points. The heightened volatility saw the trading volume jump to 2,06,969 shares. Company has a market cap of $29 M.

Other Hedge Funds, Including , Simplex Trading boosted its stake in VRNG in the latest quarter, The investment management firm added 279 additional shares and now holds a total of 900 shares of Vringo which is valued at $1,737.

Vringo Inc. is a development-stage company. The Company is focused on identifying generating acquiring and deriving economic benefits from intellectual property assets. It intends to monetize its technology portfolio through a range of initiatives including licensing strategic partnerships and litigation. The Company manages an intellectual property portfolio consisting of around 600 patents and patent applications covering telecom infrastructure Internet search and mobile technologies. These patents and patent applications have been developed internally or acquired from third-parties. It seeks to expand its portfolio of intellectual property through acquisition and development both internally and with the assistance of third-parties.

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