Crown Reserve Acquisition Corp. I (NASDAQ:CRACU – Get Free Report) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 62 shares, a drop of 95.4% from the June 30th total of 1,359 shares. Based on an average daily volume of 608 shares, the short-interest ratio is presently 0.1 days.
Crown Reserve Acquisition Corp. I Price Performance
NASDAQ CRACU remained flat at $10.25 during trading on Friday. The company’s stock had a trading volume of 6,160 shares, compared to its average volume of 2,033. Crown Reserve Acquisition Corp. I has a 12 month low of $10.04 and a 12 month high of $10.76. The stock has a fifty day simple moving average of $10.29.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Gabelli Funds LLC acquired a new stake in shares of Crown Reserve Acquisition Corp. I in the 4th quarter valued at $1,384,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Crown Reserve Acquisition Corp. I during the 4th quarter valued at about $1,521,000. HRT Financial LP bought a new position in Crown Reserve Acquisition Corp. I during the 4th quarter valued at about $252,000. Crossingbridge Advisors LLC acquired a new position in Crown Reserve Acquisition Corp. I in the fourth quarter valued at about $454,000. Finally, Westchester Capital Management LLC bought a new stake in Crown Reserve Acquisition Corp. I during the fourth quarter worth about $2,522,000.
Crown Reserve Acquisition Corp. I Company Profile
Crown Reserve Acquisition Corp. I (NASDAQ: CRACU) is a special purpose acquisition company (SPAC) formed to effect a business combination with one or more operating companies. As a blank‑check vehicle, the company itself does not operate a commercial business and was created to identify, acquire or merge with a private company that would become a publicly traded entity through the combination.
Typical activities for a SPAC like Crown Reserve include raising capital through an initial public offering of units, holding those proceeds in trust, sourcing potential acquisition targets, conducting due diligence, negotiating transaction terms and seeking shareholder approval for a proposed business combination.
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