Fortune Rise Acquisition (NASDAQ:FRLA) Shares Up 0.1%

Shares of Fortune Rise Acquisition Co. (NASDAQ:FRLA) traded up 0.1% on Thursday . The company traded as high as $11.17 and last traded at $11.17. 124 shares changed hands during trading, a decline of 100% from the average session volume of 71,364 shares. The stock had previously closed at $11.16.

Fortune Rise Acquisition Stock Performance

The stock’s 50 day moving average price is $11.14 and its two-hundred day moving average price is $11.04.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FRLA. Spartan Fund Management Inc. acquired a new stake in shares of Fortune Rise Acquisition in the 4th quarter worth approximately $343,000. K2 Principal Fund L.P. purchased a new stake in Fortune Rise Acquisition during the third quarter worth $357,000. Cowen AND Company LLC acquired a new stake in Fortune Rise Acquisition in the third quarter valued at $798,000. Mizuho Securities USA LLC purchased a new position in shares of Fortune Rise Acquisition in the third quarter valued at $1,171,000. Finally, Clear Street LLC increased its position in shares of Fortune Rise Acquisition by 2.6% in the fourth quarter. Clear Street LLC now owns 129,550 shares of the company’s stock valued at $1,420,000 after buying an additional 3,323 shares in the last quarter. 52.89% of the stock is owned by hedge funds and other institutional investors.

About Fortune Rise Acquisition

Fortune Rise Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Clearwater, Florida.