Rigel Resource Acquisition Corp. (NYSE:RRAC) Short Interest Down 62.5% in July

Rigel Resource Acquisition Corp. (NYSE:RRAC) saw a significant decrease in short interest in July. As of July 15th, there was short interest totalling 300 shares, a decrease of 62.5% from the June 30th total of 800 shares. Based on an average daily volume of 91,800 shares, the short-interest ratio is presently 0.0 days.

Rigel Resource Acquisition Stock Performance

Shares of RRAC remained flat at $11.38 on Thursday. 100 shares of the company traded hands, compared to its average volume of 99,897. The firm has a 50-day moving average price of $11.32 and a 200 day moving average price of $11.21. Rigel Resource Acquisition has a fifty-two week low of $10.74 and a fifty-two week high of $11.43.

Hedge Funds Weigh In On Rigel Resource Acquisition

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Rigel Resource Acquisition during the first quarter valued at approximately $267,000. K2 Principal Fund L.P. purchased a new position in Rigel Resource Acquisition during the fourth quarter worth approximately $2,076,000. Cohanzick Management LLC purchased a new position in Rigel Resource Acquisition during the fourth quarter worth approximately $3,288,000. Picton Mahoney Asset Management raised its stake in Rigel Resource Acquisition by 63.2% during the fourth quarter. Picton Mahoney Asset Management now owns 1,224,050 shares of the company’s stock worth $13,416,000 after purchasing an additional 474,050 shares during the period. Finally, Mizuho Securities USA LLC raised its stake in Rigel Resource Acquisition by 20.8% during the first quarter. Mizuho Securities USA LLC now owns 1,814,369 shares of the company’s stock worth $20,212,000 after purchasing an additional 312,617 shares during the period. Hedge funds and other institutional investors own 71.85% of the company’s stock.

Rigel Resource Acquisition Company Profile

Rigel Resource Acquisition Corp. does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It focuses on acquiring companies primarily in the mining industry.