Picton Mahoney Asset Management Raises Stake in Rigel Resource Acquisition Corp. (NYSE:RRAC)

Picton Mahoney Asset Management lifted its holdings in Rigel Resource Acquisition Corp. (NYSE:RRAC) by 63.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,224,050 shares of the company’s stock after acquiring an additional 474,050 shares during the period. Picton Mahoney Asset Management owned 3.82% of Rigel Resource Acquisition worth $13,416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RRAC. BCK Capital Management LP bought a new position in shares of Rigel Resource Acquisition during the 3rd quarter valued at approximately $809,000. Mizuho Securities USA LLC grew its stake in Rigel Resource Acquisition by 326.9% in the third quarter. Mizuho Securities USA LLC now owns 1,718,000 shares of the company’s stock worth $18,589,000 after purchasing an additional 1,315,536 shares in the last quarter. Cowen AND Company LLC increased its stake in shares of Rigel Resource Acquisition by 11.9% during the third quarter. Cowen AND Company LLC now owns 1,731,483 shares of the company’s stock valued at $18,856,000 after buying an additional 184,349 shares during the period. Finally, Westchester Capital Management LLC increased its position in Rigel Resource Acquisition by 1.4% during the 3rd quarter. Westchester Capital Management LLC now owns 1,774,690 shares of the company’s stock valued at $19,326,000 after purchasing an additional 25,000 shares during the period. 71.85% of the stock is currently owned by institutional investors.

Rigel Resource Acquisition Price Performance

NYSE:RRAC remained flat at $11.26 during trading hours on Tuesday. 4,577 shares of the company were exchanged, compared to its average volume of 79,717. Rigel Resource Acquisition Corp. has a 52 week low of $10.50 and a 52 week high of $11.39. The firm has a 50 day simple moving average of $11.19 and a 200 day simple moving average of $11.07.

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.