Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Short Interest Down 26.3% in January

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the recipient of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 11,680 shares, a decline of 26.3% from the January 15th total of 15,846 shares. Based on an average daily volume of 12,679 shares, the short-interest ratio is presently 0.9 days. Approximately 0.2% of the shares of the company are sold short. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 12,679 shares, the short-interest ratio is presently 0.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDAC. Wolverine Asset Management LLC increased its stake in Rising Dragon Acquisition by 1.1% during the 3rd quarter. Wolverine Asset Management LLC now owns 194,312 shares of the company’s stock valued at $2,023,000 after buying an additional 2,065 shares during the period. Berkley W R Corp boosted its holdings in shares of Rising Dragon Acquisition by 2.2% in the third quarter. Berkley W R Corp now owns 234,708 shares of the company’s stock valued at $2,446,000 after acquiring an additional 5,002 shares in the last quarter. Clear Street Group Inc. bought a new position in shares of Rising Dragon Acquisition in the third quarter valued at approximately $88,000. JPMorgan Chase & Co. acquired a new position in shares of Rising Dragon Acquisition during the third quarter valued at approximately $520,000. Finally, Goldman Sachs Group Inc. raised its holdings 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 worth $1,430,000 after purchasing an additional 83,700 shares in the last quarter.

Rising Dragon Acquisition Trading Up 5.7%

Shares of NASDAQ RDAC traded up $0.33 during midday trading on Friday, hitting $6.17. The company’s stock had a trading volume of 8,499 shares, compared to its average volume of 9,704. Rising Dragon Acquisition has a 1-year low of $4.65 and a 1-year high of $16.43. The firm’s fifty day moving average price is $8.52 and its 200-day moving average price is $9.81.

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.