Rising Dragon Acquisition Corp. (NASDAQ:RDAC) Sees Significant Decrease in Short Interest

Rising Dragon Acquisition Corp. (NASDAQ:RDAC) saw a large decline in short interest during 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 stock are sold short. Based on an average trading volume of 2,878 shares, the short-interest ratio is presently 2.1 days.

Rising Dragon Acquisition Price Performance

RDAC opened at $4.79 on Wednesday. The firm has a 50-day simple moving average of $5.80 and a two-hundred day simple moving average of $8.62. Rising Dragon Acquisition has a 52 week low of $4.59 and a 52 week high of $16.43.

Institutional Investors Weigh In On Rising Dragon Acquisition

Hedge funds have recently made changes to their positions in the company. Berkley W R Corp purchased a new position in Rising Dragon Acquisition during the 2nd quarter valued at approximately $2,366,000. Goldman Sachs Group Inc. raised its holdings 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 acquiring an additional 83,700 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Rising Dragon Acquisition during the 3rd quarter valued at approximately $520,000. Clear Street Group Inc. boosted its position in shares of Rising Dragon Acquisition by 281.7% during the 4th quarter. Clear Street Group Inc. now owns 32,305 shares of the company’s stock valued at $337,000 after acquiring an additional 23,842 shares during the last quarter. Finally, Wolverine Asset Management LLC grew its holdings in shares of Rising Dragon Acquisition by 1.1% in the third quarter. Wolverine Asset Management LLC now owns 194,312 shares of the company’s stock valued at $2,023,000 after purchasing an additional 2,065 shares in 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.