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

Rigel Resource Acquisition Corp. (NYSE:RRAC) saw a significant 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.

Rigel Resource Acquisition Price Performance

NYSE RRAC traded up $0.01 during mid-day trading on Friday, reaching $11.25. 53,655 shares of the company’s stock traded hands, compared to its average volume of 81,567. Rigel Resource Acquisition has a 1-year low of $10.49 and a 1-year high of $11.39. The company has a fifty day simple moving average of $11.17 and a 200-day simple moving average of $11.05.

Institutional Trading of Rigel Resource Acquisition

Hedge funds have recently made changes to their positions in the stock. Westchester Capital Management LLC increased its holdings in Rigel Resource Acquisition by 1.4% in the third quarter. Westchester Capital Management LLC now owns 1,774,690 shares of the company’s stock valued at $19,326,000 after buying an additional 25,000 shares during the last quarter. BCK Capital Management LP acquired a new position in shares of Rigel Resource Acquisition in the 3rd quarter worth approximately $809,000. Cowen AND Company LLC increased its holdings in shares of Rigel Resource Acquisition by 11.9% in the 3rd quarter. Cowen AND Company LLC now owns 1,731,483 shares of the company’s stock valued at $18,856,000 after acquiring an additional 184,349 shares during the last quarter. K2 Principal Fund L.P. acquired a new stake in shares of Rigel Resource Acquisition during the 4th quarter valued at approximately $2,076,000. Finally, Cohanzick Management LLC bought a new position in Rigel Resource Acquisition during the fourth quarter worth $3,288,000. Institutional investors and hedge funds own 71.85% of the company’s stock.

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.