Crown Reserve Acquisition Corp. I (NASDAQ:CRACU – Get Free Report) dropped 0.1% on Friday . The stock traded as low as $10.26 and last traded at $10.25. 5,805 shares traded hands during trading, an increase of 197% from the average session volume of 1,954 shares. The stock had previously closed at $10.26.
Crown Reserve Acquisition Corp. I Stock Down 0.1%
The firm has a 50 day simple moving average of $10.29.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank bought a new stake in shares of Crown Reserve Acquisition Corp. I during the 4th quarter valued at about $5,522,000. AQR Arbitrage LLC bought a new position in shares of Crown Reserve Acquisition Corp. I in the 4th quarter worth approximately $3,216,000. Rivernorth Capital Management LLC purchased a new position in shares of Crown Reserve Acquisition Corp. I in the fourth quarter worth approximately $2,640,000. Westchester Capital Management LLC purchased a new position in shares of Crown Reserve Acquisition Corp. I in the fourth quarter worth approximately $2,522,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Crown Reserve Acquisition Corp. I during the fourth quarter valued at approximately $1,521,000.
About Crown Reserve Acquisition Corp. I
Crown Reserve Acquisition Corp. I (NASDAQ: CRACU) is a special purpose acquisition company (SPAC) formed to effect a business combination with one or more operating companies. As a blank‑check vehicle, the company itself does not operate a commercial business and was created to identify, acquire or merge with a private company that would become a publicly traded entity through the combination.
Typical activities for a SPAC like Crown Reserve include raising capital through an initial public offering of units, holding those proceeds in trust, sourcing potential acquisition targets, conducting due diligence, negotiating transaction terms and seeking shareholder approval for a proposed business combination.
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