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Raffles Associates, a hedge fund that deals in many small securities, had two of their stocks involved in merger activity today.

Refac Optical (REF) declared a going private transaction at $6.00 a share, while Smith & Wollensky (SWRG) agreed to be acquired for $9.25 a share by Patina Restaurant group.

I recently commented on the fact that Raffles Associates, along with many other hedge funds, are beginning to file Form 13Fs with the SEC declaring their quarterly holdings.

Source: Two Raffles Associates Holdings Bought Today