Fortune Rise Acquisition Co. (NASDAQ:FRLA) Short Interest Update

Posted by Alanna Baker on Oct 2nd, 2024

Fortune Rise Acquisition Co. (NASDAQ:FRLA – Get Free Report) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 12,200 shares, a decrease of 6.2% from the August 31st total of 13,000 shares. Based on an average trading volume of 10,100 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.4% of the company’s shares are sold short.

Fortune Rise Acquisition Stock Up 0.1 %

NASDAQ:FRLA opened at $11.39 on Wednesday. Fortune Rise Acquisition has a fifty-two week low of $10.94 and a fifty-two week high of $11.87. The company has a 50 day moving average price of $11.30 and a 200 day moving average price of $11.25.

Institutional Investors Weigh In On Fortune Rise Acquisition

A number of institutional investors have recently modified their holdings of the company. Clear Street LLC boosted its holdings in Fortune Rise Acquisition by 2.6% during the 4th quarter. Clear Street LLC now owns 129,550 shares of the company’s stock valued at $1,420,000 after acquiring an additional 3,323 shares during the period. Quarry LP purchased a new position in shares of Fortune Rise Acquisition in the fourth quarter valued at approximately $1,646,000. K2 Principal Fund L.P. boosted its position in Fortune Rise Acquisition by 266.8% in the 1st quarter. K2 Principal Fund L.P. now owns 99,999 shares of the company’s stock valued at $1,111,000 after buying an additional 72,738 shares during the period. Virtu Financial LLC acquired a new position in Fortune Rise Acquisition during the 1st quarter worth $251,000. Finally, Tuttle Capital Management LLC acquired a new position in shares of Fortune Rise Acquisition during the second quarter worth about $1,678,000. 52.89% of the stock is owned by institutional investors and hedge funds.

About Fortune Rise Acquisition

(Get Free Report)

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.