Fortune Rise Acquisition Co. (NASDAQ:FRLA – Get Rating) was up 0.2% on Tuesday . The stock traded as high as $10.42 and last traded at $10.41. Approximately 3,750 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 48,705 shares. The stock had previously closed at $10.39.

Fortune Rise Acquisition Stock Up 0.2 %

The firm has a 50 day moving average price of $10.31 and a two-hundred day moving average price of $10.20.

Hedge Funds Weigh In On Fortune Rise Acquisition

Several hedge funds and other institutional investors have recently bought and sold shares of FRLA. Clear Street LLC acquired a new position in Fortune Rise Acquisition during the 3rd quarter worth approximately $25,000. Dakota Wealth Management acquired a new position in Fortune Rise Acquisition during the 2nd quarter worth approximately $101,000. State Street Corp acquired a new position in Fortune Rise Acquisition during the 1st quarter worth approximately $131,000. EHP Funds Inc. acquired a new position in Fortune Rise Acquisition during the 1st quarter worth approximately $251,000. Finally, OLD Mission Capital LLC lifted its position in Fortune Rise Acquisition by 103.4% during the 2nd quarter. OLD Mission Capital LLC now owns 25,738 shares of the company's stock worth $259,000 after acquiring an additional 13,087 shares in the last quarter. 62.32% of the stock is owned by institutional investors and hedge funds.

About Fortune Rise Acquisition

Fortune Rise Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Metuchen, New Jersey.

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