Short Interest in Fortune Rise Acquisition Co. (NASDAQ:FRLA) Expands By 165.0%

Fortune Rise Acquisition Co. (NASDAQ:FRLA) saw a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 10,600 shares, an increase of 165.0% from the July 31st total of 4,000 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 12,200 shares, the days-to-cover ratio is currently 0.9 days.

Fortune Rise Acquisition Price Performance

Shares of FRLA remained flat at $11.27 during mid-day trading on Thursday. 330 shares of the company’s stock were exchanged, compared to its average volume of 34,661. The company’s fifty day simple moving average is $11.28 and its two-hundred day simple moving average is $11.21. Fortune Rise Acquisition has a 52 week low of $10.88 and a 52 week high of $11.40.

Hedge Funds Weigh In On Fortune Rise Acquisition

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SkyView Investment Advisors LLC lifted its holdings in shares of Fortune Rise Acquisition by 107.5% during the 2nd quarter. SkyView Investment Advisors LLC now owns 83,000 shares of the company’s stock valued at $934,000 after acquiring an additional 43,000 shares in the last quarter. K2 Principal Fund L.P. lifted its holdings in shares of Fortune Rise Acquisition by 55.0% during the 2nd quarter. K2 Principal Fund L.P. now owns 154,990 shares of the company’s stock valued at $1,744,000 after acquiring an additional 54,991 shares in the last quarter. Clear Street LLC lifted its holdings in shares of Fortune Rise Acquisition by 86.1% during the 2nd quarter. Clear Street LLC now owns 251,793 shares of the company’s stock valued at $2,833,000 after acquiring an additional 116,523 shares in the last quarter. Virtu Financial LLC lifted its holdings in shares of Fortune Rise Acquisition by 222.8% during the 2nd quarter. Virtu Financial LLC now owns 72,992 shares of the company’s stock valued at $821,000 after acquiring an additional 50,380 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Fortune Rise Acquisition by 32.1% during the 2nd quarter. Wolverine Asset Management LLC now owns 344,113 shares of the company’s stock valued at $3,871,000 after acquiring an additional 83,626 shares in the last quarter. Institutional investors and hedge funds own 52.89% of the company’s stock.

About Fortune Rise Acquisition

Fortune Rise Acquisition Corporation 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. The company was incorporated in 2021 and is based in Clearwater, Florida.