Rigel Resource Acquisition Corp.
RRAC
RRAC was delisted on the 1st of November, 2024.
18 hedge funds and large institutions have $74.9M invested in Rigel Resource Acquisition Corp. in 2024 Q3 according to their latest regulatory filings, with 2 funds opening new positions, 2 increasing their positions, 9 reducing their positions, and 22 closing their positions.
53% less funds holding
Funds holding: 38 → 18 (-20)
71% less funds holding in top 10
Funds holding in top 10: 7 → 2 (-5)
72% less capital invested
Capital invested by funds: $268M → $74.9M (-$193M)
78% less repeat investments, than reductions
Existing positions increased: 2 | Existing positions reduced: 9
91% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 22
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CAC
Cowen and Company
New York
|
+$2.68M |
| 2 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
+$2.16M |
| 3 |
QL
Quarry LP
New York
|
+$2M |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$422 |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FTCM
First Trust Capital Management
Chicago,
Illinois
|
-$28.4M |
| 2 |
Calamos Advisors
Naperville,
Illinois
|
-$17M |
| 3 |
WCMNY
Westchester Capital Management (New York)
Valhalla,
New York
|
-$15M |
| 4 |
MSU
Mizuho Securities USA
New York
|
-$14.8M |
| 5 |
PMAM
Picton Mahoney Asset Management
Toronto,
Ontario, Canada
|
-$13.9M |
RRAC Hedge Fund Activity: Q3 2024 in Review
18 of the 6,978 institutional investors tracked by Wall St. Rank reported a position in Rigel Resource Acquisition Corp. (RRAC) for Q3 2024, worth a combined $74.9M — down 72% from $268M a quarter earlier.
Sellers outnumbered buyers: 22 funds closed out of RRAC and 2 opened new positions — a net loss of 20 holders — while 9 trimmed existing stakes and 2 added.
The largest buyer was Cowen and Company, adding an estimated $2.68M. The largest seller was First Trust Capital Management, exiting entirely with an estimated $28.4M sold.
- 18 institutional investors held Rigel Resource Acquisition Corp. (RRAC) as of Q3 2024, down from 38 in Q2 2024.
- Funds reported $74.9M of Rigel Resource Acquisition Corp. stock for Q3 2024, down 72% quarter-over-quarter.
- 2 funds opened new Rigel Resource Acquisition Corp. positions in Q3 2024 and 22 closed out, a net change of -20 holders.
- The largest Rigel Resource Acquisition Corp. buyer in Q3 2024 was Cowen and Company, an estimated $2.68M added.
- The largest Rigel Resource Acquisition Corp. seller in Q3 2024 was First Trust Capital Management, an estimated $28.4M sold.
Based on aggregated 13F filings for Q3 2024.