Short Interest in Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Decreases By 21.1%

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 4,418 shares, a drop of 21.1% from the March 31st total of 5,597 shares. Based on an average trading volume of 3,065 shares, the short-interest ratio is currently 1.4 days. Approximately 0.1% of the shares of the company are sold short.

Rising Dragon Acquisition Trading Down 12.9%

RDAC traded down $1.37 on Friday, hitting $9.29. 224,432 shares of the company were exchanged, compared to its average volume of 236,799. Rising Dragon Acquisition has a fifty-two week low of $4.59 and a fifty-two week high of $23.99. The business’s fifty day moving average is $5.73 and its 200 day moving average is $8.06.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Rising Dragon Acquisition in a research note on Thursday, April 2nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Rising Dragon Acquisition

Hedge funds have recently bought and sold shares of the company. Clear Street Group Inc. boosted its position in Rising Dragon Acquisition by 281.7% during the fourth quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock worth $337,000 after purchasing an additional 23,842 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Rising Dragon Acquisition during the 3rd quarter worth $520,000. Berkley W R Corp boosted its position in shares of Rising Dragon Acquisition by 2.2% in the 3rd quarter. Berkley W R Corp now owns 234,708 shares of the company’s stock worth $2,446,000 after buying an additional 5,002 shares in the last quarter. Wolverine Asset Management LLC grew 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 acquiring an additional 2,065 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Rising Dragon Acquisition by 147.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 140,300 shares of the company’s stock valued at $1,430,000 after acquiring an additional 83,700 shares during the last quarter.

About Rising Dragon Acquisition

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.