Mizuho Securities USA LLC Sells 1,298,051 Shares of Rigel Resource Acquisition Corp. (NYSE:RRAC)

Mizuho Securities USA LLC cut its stake in Rigel Resource Acquisition Corp. (NYSE:RRAC) by 69.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 570,400 shares of the company’s stock after selling 1,298,051 shares during the quarter. Mizuho Securities USA LLC’s holdings in Rigel Resource Acquisition were worth $6,503,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RRAC. Berkley W R Corp increased its stake 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. Wolverine Asset Management LLC increased its position in shares of Rigel Resource Acquisition by 129.9% during the third quarter. Wolverine Asset Management LLC now owns 335,671 shares of the company’s stock worth $3,860,000 after acquiring an additional 189,661 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Rigel Resource Acquisition during the first quarter worth $267,000. 71.85% of the stock is currently owned by institutional investors and hedge funds.

Rigel Resource Acquisition Price Performance

RRAC opened at $11.50 on Friday. Rigel Resource Acquisition Corp. has a 12 month low of $10.92 and a 12 month high of $12.75. The firm’s fifty day simple moving average is $11.49 and its 200 day simple moving average is $11.40.

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.