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

Rigel Resource Acquisition Corp. (NYSE:RRAC) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totalling 100 shares, a decline of 99.9% from the July 31st total of 100,300 shares. Based on an average daily volume of 96,600 shares, the short-interest ratio is presently 0.0 days.

Rigel Resource Acquisition Stock Performance

NYSE RRAC opened at $11.41 on Wednesday. Rigel Resource Acquisition has a 1 year low of $10.80 and a 1 year high of $12.75. The company has a fifty day moving average of $11.37 and a two-hundred day moving average of $11.27.

Hedge Funds Weigh In On Rigel Resource Acquisition

Several large investors have recently bought and sold shares of RRAC. Virtu Financial LLC purchased a new stake in shares of Rigel Resource Acquisition in the first quarter valued at about $267,000. K2 Principal Fund L.P. purchased 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 stake in shares of Rigel Resource Acquisition in the fourth quarter valued at about $3,288,000. Mizuho Securities USA LLC raised its holdings in shares of Rigel Resource Acquisition by 20.8% in the first quarter. Mizuho Securities USA LLC now owns 1,814,369 shares of the company’s stock valued at $20,212,000 after buying an additional 312,617 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its holdings in shares of Rigel Resource Acquisition by 63.2% in the fourth quarter. Picton Mahoney Asset Management now owns 1,224,050 shares of the company’s stock valued at $13,416,000 after buying an additional 474,050 shares during the last quarter. Institutional investors and hedge funds own 71.85% of the company’s stock.

About Rigel Resource Acquisition

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.