Fortune Rise Acquisition Co. (NASDAQ:FRLA) Short Interest Up 22.6% in August

Fortune Rise Acquisition Co. (NASDAQ:FRLA) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 13,000 shares, an increase of 22.6% from the August 15th total of 10,600 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average trading volume of 5,600 shares, the days-to-cover ratio is presently 2.3 days.

Fortune Rise Acquisition Trading Up 0.1 %

Shares of Fortune Rise Acquisition stock traded up $0.01 on Tuesday, hitting $11.34. 1,400 shares of the company’s stock were exchanged, compared to its average volume of 34,705. Fortune Rise Acquisition has a 1 year low of $10.90 and a 1 year high of $11.87. The company has a 50-day simple moving average of $11.29 and a 200-day simple moving average of $11.23.

Institutional Investors Weigh In On Fortune Rise Acquisition

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clear Street LLC lifted its position in shares of Fortune Rise Acquisition by 2.6% in the fourth quarter. Clear Street LLC now owns 129,550 shares of the company’s stock valued at $1,420,000 after acquiring an additional 3,323 shares in the last quarter. Virtu Financial LLC bought a new position in Fortune Rise Acquisition in the 1st quarter worth approximately $251,000. SkyView Investment Advisors LLC boosted its stake in Fortune Rise Acquisition by 107.5% in the 2nd quarter. SkyView Investment Advisors LLC now owns 83,000 shares of the company’s stock worth $934,000 after purchasing an additional 43,000 shares during the period. Spartan Fund Management Inc. grew its holdings in Fortune Rise Acquisition by 172.8% during the 2nd quarter. Spartan Fund Management Inc. now owns 85,399 shares of the company’s stock valued at $961,000 after buying an additional 54,099 shares in the last quarter. Finally, K2 Principal Fund L.P. raised its position in shares of 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 last quarter. Institutional investors own 52.89% of the company’s stock.

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.