Fortune Rise Acquisition Co. (NASDAQ:FRLA) Sees Large Decrease in Short Interest

Fortune Rise Acquisition Co. (NASDAQ:FRLA) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totalling 12,200 shares, a decrease of 6.2% from the August 31st total of 13,000 shares. Based on an average trading volume of 10,100 shares, the short-interest ratio is currently 1.2 days. Approximately 0.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Fortune Rise Acquisition

Large investors have recently made changes to their positions in the company. SkyView Investment Advisors LLC lifted its stake in Fortune Rise Acquisition by 107.5% in the second quarter. SkyView Investment Advisors LLC now owns 83,000 shares of the company’s stock valued at $934,000 after acquiring an additional 43,000 shares during the last quarter. K2 Principal Fund L.P. lifted its stake in shares of Fortune Rise Acquisition by 55.0% in the 2nd quarter. K2 Principal Fund L.P. now owns 154,990 shares of the company’s stock valued at $1,744,000 after purchasing an additional 54,991 shares during the last quarter. Clear Street LLC boosted its holdings in Fortune Rise Acquisition by 86.1% in the second quarter. Clear Street LLC now owns 251,793 shares of the company’s stock worth $2,833,000 after purchasing an additional 116,523 shares in the last quarter. Virtu Financial LLC increased its position in Fortune Rise Acquisition by 222.8% during the second quarter. Virtu Financial LLC now owns 72,992 shares of the company’s stock worth $821,000 after buying an additional 50,380 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its holdings in Fortune Rise Acquisition by 32.1% during the second quarter. Wolverine Asset Management LLC now owns 344,113 shares of the company’s stock valued at $3,871,000 after buying an additional 83,626 shares in the last quarter. Institutional investors own 52.89% of the company’s stock.

Fortune Rise Acquisition Price Performance

Shares of NASDAQ FRLA traded up $0.01 during mid-day trading on Tuesday, reaching $11.39. The company had a trading volume of 125 shares, compared to its average volume of 32,443. Fortune Rise Acquisition has a 12-month low of $10.94 and a 12-month high of $11.87. The stock has a fifty day moving average of $11.30 and a two-hundred day moving average of $11.25.

About Fortune Rise Acquisition

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.