RF Acquisition Corp. (NASDAQ:RFAC – Get Rating) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 3,800 shares, a growth of 52.0% from the September 15th total of 2,500 shares. Based on an average daily volume of 23,800 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.
RF Acquisition Price Performance
Shares of NASDAQ:RFAC traded up $0.04 during midday trading on Monday, reaching $9.97. 2,400 shares of the company's stock traded hands, compared to its average volume of 63,581. The company has a fifty day simple moving average of $9.90. RF Acquisition has a 1 year low of $9.80 and a 1 year high of $9.97.
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Hedge Funds Weigh In On RF Acquisition
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP purchased a new position in RF Acquisition in the 2nd quarter valued at about $49,000. Centiva Capital LP purchased a new position in shares of RF Acquisition in the second quarter valued at approximately $274,000. Millennium Management LLC acquired a new stake in shares of RF Acquisition in the second quarter worth approximately $296,000. Karpus Management Inc. purchased a new stake in shares of RF Acquisition during the second quarter worth approximately $403,000. Finally, Lynwood Capital Management Inc. acquired a new position in RF Acquisition in the 2nd quarter valued at $772,000. 64.29% of the stock is owned by hedge funds and other institutional investors.
About RF Acquisition
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RF Acquisition Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other business combination with one or more businesses in financial services, media, technology, retail, interpersonal communication, transportation, and education sectors.
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