Short Interest in Rigel Resource Acquisition Corp. (NYSE:RRAC) Expands By 166.7%

Rigel Resource Acquisition Corp. (NYSE:RRAC) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 800 shares, a growth of 166.7% from the March 31st total of 300 shares. Based on an average trading volume of 68,300 shares, the short-interest ratio is currently 0.0 days.

Institutional Investors Weigh In On Rigel Resource Acquisition

A number of large investors have recently modified their holdings of the business. BCK Capital Management LP bought a new stake in shares of Rigel Resource Acquisition during the 3rd quarter worth $809,000. K2 Principal Fund L.P. bought a new position in shares of Rigel Resource Acquisition in the fourth quarter worth about $2,076,000. Cohanzick Management LLC bought a new position in shares of Rigel Resource Acquisition in the fourth quarter worth about $3,288,000. Picton Mahoney Asset Management boosted its stake in shares of Rigel Resource Acquisition by 200.0% in the 3rd quarter. Picton Mahoney Asset Management now owns 750,000 shares of the company’s stock valued at $8,167,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Mizuho Securities USA LLC grew its holdings in shares of Rigel Resource Acquisition by 326.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 1,718,000 shares of the company’s stock valued at $18,589,000 after purchasing an additional 1,315,536 shares during the last quarter. Institutional investors and hedge funds own 71.85% of the company’s stock.

Rigel Resource Acquisition Stock Performance

NYSE:RRAC traded up $0.01 during mid-day trading on Friday, reaching $11.25. The stock had a trading volume of 53,655 shares, compared to its average volume of 154,829. Rigel Resource Acquisition has a 12 month low of $10.49 and a 12 month high of $11.39. The stock has a 50-day simple moving average of $11.17 and a two-hundred day simple moving average of $11.06.

About Rigel Resource Acquisition

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.