Voltari Corporation (VLTC) trumped its end of March announcement of closing a rights offering with a high of $4.52 during Easter Monday trading on April 6.

Speculations as to the reason for this 52-week high including the March 30 report that activist investor Carl Icahn increased his stake in the company.. With that purchase of 4.06 million shares at $1.36, added to the 680,000 shares he already owned, Icahn now holds more than 52% of the company. Voltari had offered 4.3 million shares.

Today's strong performance appear to support the notion that investors have flocked into the mobile ad firm formerly known as Motricity with optimism that Carl Icahn will effect change in the Company and increase value for the retail investor. Analysts had already flagged Voltari as a buyout target, and investors seem cheered by the fact that Icahn could force a sale.

However, the fundamentals at time of writing were as follows: Market Cap of over $21M, share volume of over 13M and about 70% price change over previous close of $2.63 (which was itself a big jump from the previous close and probably reflected a leak of the Icahn info).

VLTC is based in New York with about 91 employees and provides diversified communication services to telecom carriers across the telecom industry. 

Number of Institutions Holding Shares: 27
Breakdown of major holders are as follows:
% of Shares Held by All Insiders and 5% Owners: 16%
% of Float Held by Institutional & Mutual Fund Owners: 6%
% of Shares Held by Institutional & Mutual Fund Owners: 5%
 
Direct competitors include Marin Software (MRIN) and Rocket Fuel (FUEL).