Fortune Rise Acquisition Co. (NASDAQ:FRLA) Short Interest Down 82.9% in October

Fortune Rise Acquisition Co. (NASDAQ:FRLA) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,900 shares, a decline of 82.9% from the October 15th total of 11,100 shares. Based on an average trading volume of 15,200 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

Fortune Rise Acquisition Stock Up 0.1 %

Shares of Fortune Rise Acquisition stock traded up $0.01 on Tuesday, hitting $11.12. The stock had a trading volume of 2,272 shares, compared to its average volume of 29,325. The stock’s 50-day simple moving average is $11.38 and its two-hundred day simple moving average is $11.30. Fortune Rise Acquisition has a one year low of $10.95 and a one year high of $11.87.

Insider Buying and Selling

In related news, major shareholder Yakira Capital Management, Inc sold 372,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $11.51, for a total value of $4,281,720.00. Following the completion of the sale, the insider now owns 175,938 shares in the company, valued at $2,025,046.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fortune Rise Acquisition

Several hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC grew its holdings in shares of Fortune Rise Acquisition by 32.1% during the 2nd quarter. Wolverine Asset Management LLC now owns 344,113 shares of the company’s stock worth $3,871,000 after acquiring an additional 83,626 shares during the period. Clear Street LLC raised its holdings in Fortune Rise Acquisition by 86.1% in the second quarter. Clear Street LLC now owns 251,793 shares of the company’s stock worth $2,833,000 after purchasing an additional 116,523 shares in the last quarter. K2 Principal Fund L.P. lifted its position in Fortune Rise Acquisition by 55.0% during the second quarter. K2 Principal Fund L.P. now owns 154,990 shares of the company’s stock valued at $1,744,000 after buying an additional 54,991 shares during the period. Tuttle Capital Management LLC bought a new stake in shares of Fortune Rise Acquisition during the 2nd quarter valued at $1,678,000. Finally, Spartan Fund Management Inc. grew its position in shares of Fortune Rise Acquisition by 56.3% in the 3rd quarter. Spartan Fund Management Inc. now owns 133,462 shares of the company’s stock worth $1,519,000 after buying an additional 48,063 shares during the period. 52.89% of the stock is owned by hedge funds and other institutional investors.

Fortune Rise Acquisition Company Profile

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.