Marshall Islands-based Management Investor has transferred nearly a half-million shares of Global Ship Lease, bringing its stake down to 8.4% of 17.6m units outstanding.

The offloaded shares had a total value of $3.7m when they were sold at a $7.48 closing price on 1 October 2019, according to a Securities and Exchange document filed Wednesday.

They were worth a combined $3.41m