Rigel Resource Acquisition Corp. (NYSE:RRAC – Get Rating) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 3,600 shares, a decline of 41.0% from the September 30th total of 6,100 shares. Based on an average daily volume of 45,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company's stock are short sold.
Rigel Resource Acquisition Price Performance
Rigel Resource Acquisition stock remained flat at $10.11 during midday trading on Thursday. Rigel Resource Acquisition has a 12-month low of $9.75 and a 12-month high of $10.46. The company's 50 day moving average price is $10.06 and its 200-day moving average price is $9.99.
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Institutional Trading of Rigel Resource Acquisition
Several hedge funds have recently added to or reduced their stakes in the stock. Aristeia Capital LLC raised its position in Rigel Resource Acquisition by 56.3% in the second quarter. Aristeia Capital LLC now owns 781,558 shares of the company's stock worth $7,769,000 after acquiring an additional 281,558 shares during the period. Cubist Systematic Strategies LLC raised its position in Rigel Resource Acquisition by 0.4% in the second quarter. Cubist Systematic Strategies LLC now owns 546,540 shares of the company's stock worth $5,433,000 after acquiring an additional 2,070 shares during the period. Royal Bank of Canada raised its position in Rigel Resource Acquisition by 296.0% in the first quarter. Royal Bank of Canada now owns 10,196 shares of the company's stock worth $101,000 after acquiring an additional 7,621 shares during the period. Picton Mahoney Asset Management bought a new stake in Rigel Resource Acquisition in the first quarter worth about $2,481,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Rigel Resource Acquisition in the first quarter worth about $873,000. Institutional investors own 81.92% of the company's stock.
About Rigel Resource Acquisition
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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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