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Polar Securities Filed 6.4% stake in $SCGQU

Polar Securities filed 13G on October 20th that it invested 611 thousand shares in SCG Financial Acquisition Corp (SCGQU), giving a 6.4% stake ownership. This is a brand-new position since Polar Securities did not report any position in this stock before. SCG Financial Acquisition Corp is a newly organized blank check company quoted on OTC Bulletin Board. The company just finished its IPO in April 2011. Countable transactions happened after the IPO and SCGQU is now trading at $9.85. No other hedge fund in our list has a position in the stock. 

Polar Securities was established in 1991. It’s an early entrant in the nascent hedge fund industry. The firm utilizes innovative investing strategies that have a track record of more than 19 years consistent success. Polar Securities provides two funds: North Pole Capital, which is a North American-focused multi-strategy product; and Altairis, which is a long/short, North American-focused equity product.

SCG Financial Acquisition Corp. is a newly-organized blank check company formed for the purpose of acquiring or merging an operating business through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction or other similar business transaction. The company had no operation and no revenue before January 2011.