Crown Reserve Acquisition Corp. I (NASDAQ:CRACU – Get Free Report) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 62 shares, a drop of 95.4% from the June 30th total of 1,359 shares. Based on an average daily volume of 608 shares, the short-interest ratio is presently 0.1 days.
Crown Reserve Acquisition Corp. I Price Performance
Shares of Crown Reserve Acquisition Corp. I stock remained flat at $10.25 during midday trading on Friday. 6,160 shares of the company traded hands, compared to its average volume of 2,033. The stock’s 50 day moving average price is $10.29. Crown Reserve Acquisition Corp. I has a 12 month low of $10.04 and a 12 month high of $10.76.
Institutional Trading of Crown Reserve Acquisition Corp. I
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank acquired a new position in shares of Crown Reserve Acquisition Corp. I during the fourth quarter worth $5,522,000. AQR Arbitrage LLC bought a new stake in Crown Reserve Acquisition Corp. I during the 4th quarter worth $3,216,000. Rivernorth Capital Management LLC acquired a new position in Crown Reserve Acquisition Corp. I in the 4th quarter worth about $2,640,000. Westchester Capital Management LLC acquired a new position in Crown Reserve Acquisition Corp. I in the 4th quarter worth about $2,522,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Crown Reserve Acquisition Corp. I in the fourth quarter valued at about $1,521,000.
About Crown Reserve Acquisition Corp. I
Crown Reserve Acquisition Corp. I (NASDAQ: CRACU) is a special purpose acquisition company (SPAC) formed to effect a business combination with one or more operating companies. As a blank‑check vehicle, the company itself does not operate a commercial business and was created to identify, acquire or merge with a private company that would become a publicly traded entity through the combination.
Typical activities for a SPAC like Crown Reserve include raising capital through an initial public offering of units, holding those proceeds in trust, sourcing potential acquisition targets, conducting due diligence, negotiating transaction terms and seeking shareholder approval for a proposed business combination.
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