Weber Alan W buys $1.3 Million stake in Rand Logistics (RLOG)

Rand Logistics (RLOG) : Weber Alan W scooped up 483,000 additional shares in Rand Logistics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 1,395,091 shares of Rand Logistics which is valued at $1.3 Million.Rand Logistics makes up approximately 0.95% of Weber Alan W’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors reduced its stake in RLOG by selling 5,210 shares or 7.45% in the most recent quarter. The Hedge Fund company now holds 64,723 shares of RLOG which is valued at $58,251.

Rand Logistics closed down -0.0801 points or -8.90% at $0.8199 with 89,999 shares getting traded on Monday. Post opening the session at $0.89, the shares hit an intraday low of $0.73 and an intraday high of $0.89 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Rand Logistics Inc. is a provider of bulk freight shipping services. Through its subsidiaries the Company operates a fleet of over 10 self-unloading bulk carriers including eight River Class vessels and one River Class integrated tug/barge unit and three conventional bulk carriers of which one are operated under a contract of affreightment. Its shipping business is operated in Canada by Lower Lakes Towing and in the United States by Lower Lakes Transportation. Lower Lakes Towing provides marine transportation services to dry bulk goods suppliers and purchasers operating in ports on the Great Lakes and is a service shipping company with a fleet of over 15 cargo-carrying vessels. It transports construction aggregates coal iron ore salt grain and other dry bulk commodities for customers in the construction electric utility integrated steel and food industries. Its fleet consists of the vessels including Cuyahoga Michipicoten Mississagi Saginaw and Ojibway among others.

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