Fortune Rise Acquisition Co. (NASDAQ:FRLA) Short Interest Update

Fortune Rise Acquisition Co. (NASDAQ:FRLA) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 7,400 shares, a growth of 111.4% from the June 30th total of 3,500 shares. Based on an average daily volume of 22,900 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the company’s shares are short sold.

Fortune Rise Acquisition Stock Performance

Shares of Fortune Rise Acquisition stock remained flat at $11.26 on Friday. 44 shares of the stock traded hands, compared to its average volume of 6,269. Fortune Rise Acquisition has a 1 year low of $10.76 and a 1 year high of $11.40. The firm has a 50 day moving average of $11.27 and a 200-day moving average of $11.18.

Institutional Investors Weigh In On Fortune Rise Acquisition

Several institutional investors have recently added to or reduced their stakes in the company. Mizuho Securities USA LLC boosted its holdings in shares of Fortune Rise Acquisition by 149.5% during the fourth quarter. Mizuho Securities USA LLC now owns 267,957 shares of the company’s stock worth $2,921,000 after purchasing an additional 160,550 shares during the period. Tuttle Capital Management LLC bought a new stake in shares of Fortune Rise Acquisition during the second quarter valued at approximately $1,678,000. Quarry LP purchased a new stake in Fortune Rise Acquisition in the fourth quarter worth $1,646,000. Clear Street LLC raised its holdings in Fortune Rise Acquisition by 2.6% in the fourth quarter. Clear Street LLC now owns 129,550 shares of the company’s stock worth $1,420,000 after purchasing an additional 3,323 shares in the last quarter. Finally, K2 Principal Fund L.P. raised its holdings in Fortune Rise Acquisition by 266.8% in the first quarter. K2 Principal Fund L.P. now owns 99,999 shares of the company’s stock worth $1,111,000 after purchasing an additional 72,738 shares in the last quarter. Hedge funds and other 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.