Fortune Rise Acquisition (NASDAQ:FRLA) Shares Up 0.2%

Fortune Rise Acquisition Co. (NASDAQ:FRLAGet Rating)’s share price shot up 0.2% during mid-day trading on Tuesday . The company traded as high as $10.42 and last traded at $10.41. 3,750 shares changed hands during trading, a decline of 92% from the average session volume of 48,705 shares. The stock had previously closed at $10.39.

Fortune Rise Acquisition Trading Up 0.2 %

The stock’s fifty day moving average price is $10.31 and its 200-day moving average price is $10.20.

Institutional Investors Weigh In On Fortune Rise Acquisition

A number of hedge funds have recently modified their holdings of the company. State Street Corp grew its holdings in shares of Fortune Rise Acquisition by 29.0% in the third quarter. State Street Corp now owns 13,776 shares of the company’s stock valued at $140,000 after purchasing an additional 3,100 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in shares of Fortune Rise Acquisition in the third quarter valued at about $6,168,000. OLD Mission Capital LLC grew its holdings in shares of Fortune Rise Acquisition by 12.7% in the third quarter. OLD Mission Capital LLC now owns 28,999 shares of the company’s stock valued at $295,000 after purchasing an additional 3,261 shares during the period. Clear Street LLC purchased a new stake in shares of Fortune Rise Acquisition in the third quarter valued at about $25,000. Finally, Karpus Management Inc. grew its holdings in shares of Fortune Rise Acquisition by 7.4% in the second quarter. Karpus Management Inc. now owns 796,575 shares of the company’s stock valued at $8,014,000 after purchasing an additional 54,725 shares during the period. Hedge funds and other institutional investors own 62.32% of the company’s stock.

About Fortune Rise Acquisition

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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 Metuchen, New Jersey.

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