Spartan Fund Management Inc. Grows Holdings in Rigel Resource Acquisition Corp. (NYSE:RRAC)

Spartan Fund Management Inc. boosted its stake in shares of Rigel Resource Acquisition Corp. (NYSE:RRAC) by 51.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 151,239 shares of the company’s stock after buying an additional 51,239 shares during the quarter. Rigel Resource Acquisition makes up approximately 6.4% of Spartan Fund Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Spartan Fund Management Inc.’s holdings in Rigel Resource Acquisition were worth $1,739,000 as of its most recent filing with the SEC.

Separately, Mizuho Securities USA LLC grew its stake in shares of Rigel Resource Acquisition by 12.3% during the fourth quarter. Mizuho Securities USA LLC now owns 640,519 shares of the company’s stock valued at $7,302,000 after buying an additional 70,119 shares during the last quarter. 71.85% of the stock is owned by hedge funds and other institutional investors.

Rigel Resource Acquisition Price Performance

Shares of RRAC stock opened at $11.50 on Wednesday. The stock has a 50 day moving average price of $11.50 and a 200 day moving average price of $11.50. Rigel Resource Acquisition Corp. has a 52-week low of $10.92 and a 52-week high of $12.75.

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.