Westchester Capital Management LLC Reduces Holdings in Rigel Resource Acquisition Corp. (NYSE:RRAC)

Westchester Capital Management LLC cut its position in Rigel Resource Acquisition Corp. (NYSE:RRAC) by 64.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 712,000 shares of the company’s stock after selling 1,318,668 shares during the quarter. Westchester Capital Management LLC owned approximately 2.22% of Rigel Resource Acquisition worth $8,188,000 at the end of the most recent quarter.

Separately, Virtu Financial LLC purchased a new position in shares of Rigel Resource Acquisition in the 1st quarter valued at approximately $267,000. Hedge funds and other institutional investors own 71.85% of the company’s stock.

Rigel Resource Acquisition Price Performance

NYSE:RRAC opened at $11.50 on Friday. Rigel Resource Acquisition Corp. has a 12-month low of $10.92 and a 12-month high of $12.75. The stock’s 50 day simple moving average is $11.50 and its 200-day simple moving average is $11.41.

About Rigel Resource Acquisition

Rigel Resource Acquisition Corp. does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It focuses on acquiring companies primarily in the mining industry.