By MATT BLOIS
One of Quorum Health Corporation’s largest investors is going active.
The New York investment firm York Capital Management Global Advisors — which manages about $20.5 billion — filed documents with the SEC indicating it would switch from a passive to an active investor.
York Capital first invested in Quorum in the third quarter of 2017, when it purchased about 1 million shares. By the end of 2018 the firm controlled more than 5 percent of the company’s stock.
With nearly 3 million shares, the investment firm was Quorum’s second biggest institutional shareholder at the end of June. According to SEC documents, the firm didn’t buy any new shares when it became an active investor.
The paperwork recently filed by York Capital doesn’t call for any specific changes at the company.
The switch came at the end of a big day for Quorum’s stock. The company’s stock rose about 40% on Tuesday. The stock was trading at $1.46 on on Wednesday morning.