Rising Dragon Acquisition (NASDAQ:RDAC) Trading 0.2% Higher - Here's What Happened

Key Points

• Rising Dragon Acquisition Corp. (NASDAQ:RDAC) saw a slight increase in its share price, trading up by 0.2% to $10.38, with trading volume significantly higher than average at 4,198 shares.
• Several institutional investors increased their stakes in Rising Dragon Acquisition during the 4th quarter, with notable investments from Polar Asset Management and Two Sigma Investments, among others.
• Rising Dragon Acquisition is a blank check company focused on pursuing business combinations and was founded in March 2024, based in Taiyuan, China.

Rising Dragon Acquisition Corp. (NASDAQ:RDAC - )'s share price traded up 0.2% during trading on Tuesday . The stock traded as high as $10.38 and last traded at $10.38. 4,198 shares changed hands during trading, an increase of 3,105% from the average session volume of 131 shares. The stock had previously closed at $10.36.

Rising Dragon Acquisition Trading Up 0.2%

The firm has a 50-day moving average price of $10.33 and a 200 day moving average price of $10.25.

Hedge Funds Weigh In On Rising Dragon Acquisition

Institutional investors have recently modified their holdings of the company. Polar Asset Management Partners Inc. bought a new position in shares of Rising Dragon Acquisition during the 4th quarter valued at about $5,010,000. Two Sigma Investments LP bought a new position in shares of Rising Dragon Acquisition during the 4th quarter valued at about $1,252,000. Toronto Dominion Bank bought a new position in shares of Rising Dragon Acquisition during the 4th quarter valued at about $3,769,000. D. E. Shaw & Co. Inc. bought a new position in shares of Rising Dragon Acquisition during the 4th quarter valued at about $2,737,000. Finally, Mizuho Securities USA LLC boosted its holdings in Rising Dragon Acquisition by 0.4% during the 1st quarter. Mizuho Securities USA LLC now owns 580,088 shares of the company's stock valued at $5,870,000 after acquiring an additional 2,128 shares during the period.

About Rising Dragon Acquisition

Rising Dragon Acquisition Corp. is a blank check company. It was formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses. The company was founded on March 8, 2024 and is headquartered in Taiyuan, China.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.