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

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) saw a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 7,410 shares, a drop of 14.8% from the February 12th total of 8,697 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 2,298 shares, the short-interest ratio is currently 3.2 days. Based on an average daily volume of 2,298 shares, the short-interest ratio is currently 3.2 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Trading of Rising Dragon Acquisition

A number of hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of 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 purchasing an additional 83,700 shares during the period. Berkley W R Corp bought a new position in Rising Dragon Acquisition in the second quarter worth $2,366,000. Wolverine Asset Management LLC lifted its position in Rising Dragon Acquisition by 1.1% in the third quarter. Wolverine Asset Management LLC now owns 194,312 shares of the company’s stock worth $2,023,000 after purchasing an additional 2,065 shares during the period. JPMorgan Chase & Co. acquired a new stake in Rising Dragon Acquisition during the third quarter worth $520,000. Finally, Clear Street Group Inc. bought a new stake in Rising Dragon Acquisition in the 3rd quarter valued at $88,000.

Rising Dragon Acquisition Stock Performance

NASDAQ:RDAC opened at $5.26 on Tuesday. The firm’s 50-day moving average is $6.48 and its 200-day moving average is $9.03. Rising Dragon Acquisition has a 52-week low of $4.59 and a 52-week 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.