Short Interest in Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Declines By 16.8%

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) was the recipient of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 6,168 shares, a decline of 16.8% from the February 26th total of 7,410 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 2,878 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RDAC. Berkley W R Corp acquired a new stake in Rising Dragon Acquisition during the second quarter valued at approximately $2,366,000. JPMorgan Chase & Co. acquired a new position in shares of Rising Dragon Acquisition in the 3rd quarter worth approximately $520,000. Goldman Sachs Group Inc. lifted its position in shares of Rising Dragon Acquisition by 147.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company’s stock worth $1,430,000 after buying an additional 83,700 shares during the period. Clear Street Group Inc. boosted its stake in Rising Dragon Acquisition by 281.7% in the 4th quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock valued at $337,000 after buying an additional 23,842 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its stake in Rising Dragon Acquisition by 1.1% in 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 in the last quarter.

Rising Dragon Acquisition Stock Performance

Shares of RDAC stock opened at $5.11 on Monday. The firm has a fifty day moving average of $5.92 and a 200-day moving average of $8.70. Rising Dragon Acquisition has a 52-week low of $4.59 and a 52-week high of $16.43.

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.