Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Sees Significant Drop in Short Interest

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the recipient of a large drop in short interest in February. As of February 13th, there was short interest totaling 8,697 shares, a drop of 25.5% from the January 29th total of 11,680 shares. Based on an average trading volume of 6,958 shares, the short-interest ratio is presently 1.2 days. Approximately 0.1% of the shares of the stock are short sold. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 6,958 shares, the short-interest ratio is presently 1.2 days.

Institutional Investors Weigh In On Rising Dragon Acquisition

A number of large investors have recently added to or reduced their stakes in the company. Berkley W R Corp bought a new position in shares of Rising Dragon Acquisition during the 2nd quarter valued at about $2,366,000. Goldman Sachs Group Inc. grew its position in Rising Dragon Acquisition by 147.9% during the first quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company’s stock valued at $1,430,000 after acquiring an additional 83,700 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Rising Dragon Acquisition during the third quarter valued at approximately $520,000. Clear Street Group Inc. raised its stake in shares of Rising Dragon Acquisition by 281.7% during the fourth quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock worth $337,000 after acquiring an additional 23,842 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Rising Dragon Acquisition by 1.1% in the 3rd quarter. Wolverine Asset Management LLC now owns 194,312 shares of the company’s stock worth $2,023,000 after acquiring an additional 2,065 shares during the last quarter.

Rising Dragon Acquisition Trading Down 7.4%

Rising Dragon Acquisition stock traded down $0.37 during mid-day trading on Wednesday, hitting $4.61. 1,065 shares of the company traded hands, compared to its average volume of 11,475. The stock has a fifty day moving average price of $7.34 and a 200-day moving average price of $9.36. Rising Dragon Acquisition has a one year low of $4.44 and a one year high of $16.43.

Rising Dragon Acquisition Company Profile

Rising Dragon Acquisition Corp (NASDAQ: RDAC) is a special purpose acquisition company, or SPAC, incorporated in the Cayman Islands in November 2020 to pursue a merger, share exchange, asset acquisition or other business combination. The company held its initial public offering in February 2021, raising funds aimed at financing acquisitions and related transaction expenses.

Rising Dragon Acquisition focuses on identifying high-growth opportunities in Asia, targeting sectors such as technology, media, telecommunications, healthcare and consumer products.