Crown Reserve Acquisition Corp. I (NASDAQ:CRACU – Get Free Report)’s stock price was down 0.1% on Friday . The company traded as low as $10.21 and last traded at $10.21. Approximately 603 shares were traded during trading, a decline of 80% from the average daily volume of 3,067 shares. The stock had previously closed at $10.22.
Crown Reserve Acquisition Corp. I Trading Down 0.1%
Hedge Funds Weigh In On Crown Reserve Acquisition Corp. I
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lineage Point Capital LP purchased a new position in Crown Reserve Acquisition Corp. I during the 4th quarter valued at approximately $107,000. HRT Financial LP purchased a new stake in shares of Crown Reserve Acquisition Corp. I during the 4th quarter valued at about $252,000. Clear Street Group Inc. bought a new position in shares of Crown Reserve Acquisition Corp. I in the 4th quarter valued at about $377,000. Crossingbridge Advisors LLC purchased a new position in Crown Reserve Acquisition Corp. I in the fourth quarter worth about $454,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Crown Reserve Acquisition Corp. I during the fourth quarter worth approximately $733,000.
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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