RCF Acquisition (NYSE:RCFA) Trading Down 0.1% - Here's Why

Shares of RCF Acquisition Corp. (NYSE:RCFA - Get Free Report) dropped 0.1% during trading on Tuesday . The stock traded as low as $11.50 and last traded at $11.50. Approximately 75,633 shares changed hands during mid-day trading, an increase of 290% from the average daily volume of 19,400 shares. The stock had previously closed at $11.51.

RCF Acquisition Stock Performance

The stock's 50 day moving average is $11.48 and its two-hundred day moving average is $11.39.

Institutional Trading of RCF Acquisition

A number of hedge funds have recently added to or reduced their stakes in RCFA. Mizuho Securities USA LLC raised its stake in shares of RCF Acquisition by 81.3% during the third quarter. Mizuho Securities USA LLC now owns 829,500 shares of the company's stock worth $9,498,000 after purchasing an additional 372,000 shares during the last quarter. Cowen AND Company LLC lifted its stake in shares of RCF Acquisition by 247.3% in the 2nd quarter. Cowen AND Company LLC now owns 52,075 shares of the company's stock worth $590,000 after acquiring an additional 37,080 shares during the period. Finally, Berkley W R Corp boosted its holdings in shares of RCF Acquisition by 3.0% in the first quarter. Berkley W R Corp now owns 497,514 shares of the company's stock valued at $5,527,000 after acquiring an additional 14,355 shares in the last quarter. 24.62% of the stock is owned by institutional investors and hedge funds.

About RCF Acquisition

RCF Acquisition Corp. does not have significant operations. It focuses to target assets or businesses of scale across the critical minerals value chain that are poised to benefit over the long-term from the substantial market opportunity created by the global energy transition. The company was incorporated in 2021 and is based in Denver, Colorado.