Spartan Fund Management Inc. Sells 25,000 Shares of Rigel Resource Acquisition Corp. (NYSE:RRAC)

Spartan Fund Management Inc. reduced its position in Rigel Resource Acquisition Corp. (NYSE:RRAC) by 20.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the company’s stock after selling 25,000 shares during the quarter. Rigel Resource Acquisition comprises about 3.5% of Spartan Fund Management Inc.’s portfolio, making the stock its 12th largest position. Spartan Fund Management Inc.’s holdings in Rigel Resource Acquisition were worth $1,150,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Virtu Financial LLC bought a new position in Rigel Resource Acquisition in the first quarter valued at about $267,000. Mizuho Securities USA LLC boosted its stake in shares of Rigel Resource Acquisition by 20.8% in the 1st quarter. Mizuho Securities USA LLC now owns 1,814,369 shares of the company’s stock valued at $20,212,000 after purchasing an additional 312,617 shares in the last quarter. Finally, Berkley W R Corp increased its position in 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 purchasing an additional 791,216 shares in the last quarter. Institutional investors and hedge funds own 71.85% of the company’s stock.

Rigel Resource Acquisition Stock Performance

Rigel Resource Acquisition stock traded up $0.01 during mid-day trading on Tuesday, reaching $11.52. The company had a trading volume of 100 shares, compared to its average volume of 52,755. The business has a fifty day simple moving average of $11.46 and a 200 day simple moving average of $11.36. Rigel Resource Acquisition Corp. has a fifty-two week low of $10.89 and a fifty-two week high of $12.75.

Rigel Resource Acquisition Profile

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.