MINYANVILLE ORIGINAL The three most active funds and stocks in pre-market trading on the Nasdaq (INDEXNASDAQ:.IXIC) were Pennant Park Investment Corporation
(NASDAQ:PNNT), Union Drilling (NASDAQ:UDRL)
, and PowerShares QQQ Trust
(NASDAQ:QQQ) as of 8:50 a.m. Investors traded
1,785,782 shares of Pennant Park Investment Corporation, which was down $0.35, or 3.15%.
Pennant Park annouced
that it plans to make a public offering of 9 million shares of its common stock.
Investors also traded
1,058,720 shares of Union Drilling, which was up $0.36, or 5.87%.
According to Reuters
, Sidewinder Drilling, controlled by private equity firm Avista Capital Partners, plans to buy Union Drilling Inc for $139 million.
Sidewinder offered Union Drilling $6.50 per share, or a 6% premium to Union's Monday close of $6.13.
267,908 shares of PowerShares QQQ Trust, which was up $0.27, or 0.38%.
(Also see Pre-Market Primer: S&P Cuts Eurozone and Asian Countries.
No positions in stocks mentioned.