Integrated Rail and Resources Acquisition Corp. (NYSE:IRRX – Get Rating) fell 0.2% on Friday . The company traded as low as $10.58 and last traded at $10.58. 270 shares traded hands during trading, a decline of 100% from the average session volume of 81,005 shares. The stock had previously closed at $10.60.
Integrated Rail and Resources Acquisition Price Performance
The company has a 50-day moving average price of $10.54 and a 200 day moving average price of $10.33.
Get Integrated Rail and Resources Acquisition alerts:Insider Transactions at Integrated Rail and Resources Acquisition
In related news, major shareholder Saba Capital Management, L.P. sold 300,000 shares of the company's stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $10.42, for a total value of $3,126,000.00. Following the completion of the transaction, 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 the SEC website. Company insiders own 14.70% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Warberg Asset Management LLC acquired a new stake in Integrated Rail and Resources Acquisition in the third quarter valued at $129,000. Landscape Capital Management L.L.C. acquired a new stake in Integrated Rail and Resources Acquisition in the third quarter valued at $198,000. Susquehanna International Group LLP raised its stake in Integrated Rail and Resources Acquisition by 79.0% in the fourth quarter. Susquehanna International Group LLP now owns 24,563 shares of the company's stock valued at $250,000 after buying an additional 10,842 shares in the last quarter. Glazer Capital LLC acquired a new stake in Integrated Rail and Resources Acquisition in the first quarter valued at $365,000. Finally, Centiva Capital LP acquired a new stake in Integrated Rail and Resources Acquisition in the second quarter valued at $523,000. 86.11% of the stock is currently owned by hedge funds and other institutional investors.
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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