Integrated Rail and Resources Acquisition Corp. (NYSE:IRRX – Get Rating) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,200 shares, an increase of 22.2% from the February 28th total of 1,800 shares. Based on an average trading volume of 82,100 shares, the short-interest ratio is presently 0.0 days.
Insider Activity
In related news, major shareholder Saba Capital Management, L.P. sold 300,000 shares of Integrated Rail and Resources Acquisition stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $10.42, for a total transaction of $3,126,000.00. Following the sale, the insider now owns 1,925,232 shares of the company's stock, valued at approximately $20,060,917.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.70% of the company's stock.
Get Integrated Rail and Resources Acquisition alerts:Institutional Trading of Integrated Rail and Resources Acquisition
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Landscape Capital Management L.L.C. raised its holdings in shares of Integrated Rail and Resources Acquisition by 20.4% in the 4th quarter. Landscape Capital Management L.L.C. now owns 23,649 shares of the company's stock worth $244,000 after purchasing an additional 4,000 shares in the last quarter. Susquehanna International Group LLP raised its holdings in shares of Integrated Rail and Resources Acquisition by 79.0% during the fourth quarter. Susquehanna International Group LLP now owns 24,563 shares of the company's stock valued at $250,000 after acquiring an additional 10,842 shares during the period. Glazer Capital LLC raised its holdings in shares of Integrated Rail and Resources Acquisition by 29.2% during the third quarter. Glazer Capital LLC now owns 48,992 shares of the company's stock valued at $492,000 after acquiring an additional 11,065 shares during the period. Warberg Asset Management LLC acquired a new stake in shares of Integrated Rail and Resources Acquisition during the third quarter valued at approximately $129,000. Finally, Karpus Management Inc. raised its holdings in shares of Integrated Rail and Resources Acquisition by 2.9% during the second quarter. Karpus Management Inc. now owns 672,550 shares of the company's stock valued at $6,692,000 after acquiring an additional 19,200 shares during the period. 86.11% of the stock is currently owned by institutional investors.
Integrated Rail and Resources Acquisition Price Performance
Shares of NYSE IRRX remained flat at $10.60 during midday trading on Friday. Integrated Rail and Resources Acquisition has a 1 year low of $9.92 and a 1 year high of $10.90. The business has a 50-day simple moving average of $10.45 and a two-hundred day simple moving average of $10.26.
Integrated Rail and Resources Acquisition Company Profile
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Integrated Rail and Resources Acquisition Corp. does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in railroad companies in North America. The company was incorporated in 2021 and is based in Fort Worth, Texas.
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