Shares of Crown Reserve Acquisition Corp. I (NASDAQ:CRACU – Get Free Report) shot up 1.3% during trading on Monday . The stock traded as high as $10.24 and last traded at $10.36. 265 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,823 shares. The stock had previously closed at $10.23.
Crown Reserve Acquisition Corp. I Price Performance
The business’s fifty day moving average is $10.27.
Institutional Trading of Crown Reserve Acquisition Corp. I
Institutional investors have recently added to or reduced their stakes in the stock. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Crown Reserve Acquisition Corp. I in the fourth quarter valued at approximately $1,521,000. Gabelli Funds LLC bought a new stake in Crown Reserve Acquisition Corp. I in the fourth quarter valued at approximately $1,384,000. HRT Financial LP bought a new stake in Crown Reserve Acquisition Corp. I in the fourth quarter valued at approximately $252,000. Clear Street Group Inc. bought a new position in shares of Crown Reserve Acquisition Corp. I during the 4th quarter worth approximately $377,000. Finally, Lineage Point Capital LP bought a new position in shares of Crown Reserve Acquisition Corp. I during the 4th quarter worth approximately $107,000.
Crown Reserve Acquisition Corp. I Company Profile
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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