Rigel Resource Acquisition Corp. (NYSE:RRAC) Short Interest Update

Rigel Resource Acquisition Corp. (NYSE:RRAC) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 800 shares, a growth of 166.7% from the March 31st total of 300 shares. Based on an average trading volume of 68,300 shares, the days-to-cover ratio is currently 0.0 days.

Rigel Resource Acquisition Trading Up 0.1 %

Shares of RRAC stock traded up $0.01 during mid-day trading on Friday, hitting $11.25. 53,655 shares of the stock were exchanged, compared to its average volume of 81,567. Rigel Resource Acquisition has a 52-week low of $10.49 and a 52-week high of $11.39. The firm has a fifty day moving average of $11.17 and a 200 day moving average of $11.05.

Hedge Funds Weigh In On Rigel Resource Acquisition

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RRAC. BCK Capital Management LP acquired a new position in Rigel Resource Acquisition in the 3rd quarter valued at $809,000. K2 Principal Fund L.P. acquired a new stake in shares of Rigel Resource Acquisition in the fourth quarter valued at about $2,076,000. Cohanzick Management LLC purchased a new position in shares of Rigel Resource Acquisition in the fourth quarter worth about $3,288,000. Picton Mahoney Asset Management boosted its position in Rigel Resource Acquisition by 200.0% during the third quarter. Picton Mahoney Asset Management now owns 750,000 shares of the company’s stock worth $8,167,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in Rigel Resource Acquisition by 326.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 1,718,000 shares of the company’s stock valued at $18,589,000 after acquiring an additional 1,315,536 shares during the last quarter. 71.85% of the stock is owned by hedge funds and other institutional investors.

Rigel Resource Acquisition Company Profile

Rigel Resource Acquisition Corp. does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It focuses on acquiring companies primarily in the mining industry.