Rigel Resource Acquisition Corp. (NYSE:RRAC) Short Interest Down 40.0% in September

Rigel Resource Acquisition Corp. (NYSE:RRAC - Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 300 shares, a drop of 40.0% from the September 15th total of 500 shares. Based on an average daily volume of 79,700 shares, the days-to-cover ratio is presently 0.0 days.

Rigel Resource Acquisition Price Performance

Shares of RRAC remained flat at $11.50 during trading hours on Friday. The firm has a 50-day moving average price of $11.45 and a 200 day moving average price of $11.34. Rigel Resource Acquisition has a twelve month low of $10.89 and a twelve month high of $12.75.

Institutional Investors Weigh In On Rigel Resource Acquisition

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRAC. Berkley W R Corp grew its position in shares of Rigel Resource Acquisition by 66.5% during the 1st quarter. Berkley W R Corp now owns 1,980,247 shares of the company's stock worth $22,119,000 after buying an additional 791,216 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in Rigel Resource Acquisition by 20.8% in the first quarter. Mizuho Securities USA LLC now owns 1,814,369 shares of the company's stock worth $20,212,000 after acquiring an additional 312,617 shares during the period. Finally, Virtu Financial LLC bought a new position in Rigel Resource Acquisition during the 1st quarter worth about $267,000. Institutional investors 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.