Rigel Resource Acquisition Corp. (NYSE:RRAC – Get Rating) saw a large decrease in short interest in December. As of December 15th, there was short interest totalling 2,600 shares, a decrease of 21.2% from the November 30th total of 3,300 shares. Based on an average daily trading volume, of 47,600 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company's stock are short sold.

Institutional Investors Weigh In On Rigel Resource Acquisition

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its position in Rigel Resource Acquisition by 50.0% in the 3rd quarter. Alliancebernstein L.P. now owns 75,000 shares of the company's stock worth $508,000 after buying an additional 25,000 shares in the last quarter. Aristeia Capital LLC lifted its position in Rigel Resource Acquisition by 21.8% in the 3rd quarter. Aristeia Capital LLC now owns 951,558 shares of the company's stock worth $9,601,000 after buying an additional 170,000 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Rigel Resource Acquisition by 0.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 546,540 shares of the company's stock worth $5,433,000 after buying an additional 2,070 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Rigel Resource Acquisition by 296.0% in the 1st quarter. Royal Bank of Canada now owns 10,196 shares of the company's stock worth $101,000 after buying an additional 7,621 shares in the last quarter. Hedge funds and other institutional investors own 85.17% of the company's stock.

Rigel Resource Acquisition Price Performance

RRAC stock remained flat at $10.29 during midday trading on Friday. 100 shares of the company's stock were exchanged, compared to its average volume of 40,800. Rigel Resource Acquisition has a 12 month low of $9.76 and a 12 month high of $10.33. The company's 50-day moving average price is $10.19 and its 200 day moving average price is $10.08.

Rigel Resource Acquisition Company Profile

Rigel Resource Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.

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