Crown Reserve Acquisition Corp. I (NASDAQ:CRACU – Get Free Report)’s share price fell 0.1% during trading on Friday . The stock traded as low as $10.26 and last traded at $10.25. 5,805 shares were traded during mid-day trading, an increase of 197% from the average session volume of 1,954 shares. The stock had previously closed at $10.26.
Crown Reserve Acquisition Corp. I Price Performance
The business’s 50 day moving average is $10.29.
Hedge Funds Weigh In On Crown Reserve Acquisition Corp. I
Several institutional investors have recently bought and sold shares of the stock. Lineage Point Capital LP bought a new stake in Crown Reserve Acquisition Corp. I in the 4th quarter worth approximately $107,000. Toronto Dominion Bank purchased a new position in Crown Reserve Acquisition Corp. I during the fourth quarter worth $5,522,000. Rivernorth Capital Management LLC bought a new position in Crown Reserve Acquisition Corp. I during the fourth quarter valued at $2,640,000. AQR Arbitrage LLC purchased a new stake in shares of Crown Reserve Acquisition Corp. I in the fourth quarter valued at $3,216,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Crown Reserve Acquisition Corp. I in the 4th quarter worth about $733,000.
About Crown Reserve Acquisition Corp. I
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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