RF Acquisition (NASDAQ:RFAC) Shares Up 0.5% - Here's Why

Shares of RF Acquisition Corp. (NASDAQ:RFAC - Get Free Report) were up 0.5% on Friday . The company traded as high as $11.29 and last traded at $11.29. Approximately 6,702 shares traded hands during trading, a decline of 57% from the average daily volume of 15,435 shares. The stock had previously closed at $11.23.

RF Acquisition Price Performance

The company has a 50-day simple moving average of $11.22 and a 200-day simple moving average of $11.11.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in RF Acquisition stock. Cowen AND Company LLC increased its holdings in shares of RF Acquisition Corp. (NASDAQ:RFAC - Free Report) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,687 shares of the company's stock after buying an additional 3,637 shares during the period. Cowen AND Company LLC owned 2.71% of RF Acquisition worth $1,742,000 at the end of the most recent quarter. 36.55% of the stock is currently owned by institutional investors and hedge funds.

RF Acquisition Company Profile

RF Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in financial services, media, technology, retail, interpersonal communication, transportation, and education sectors.