K2 Principal Fund L.P. Boosts Stock Position in Fortune Rise Acquisition Co. (NASDAQ:FRLA)

K2 Principal Fund L.P. raised its stake in Fortune Rise Acquisition Co. (NASDAQ:FRLA) by 55.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 154,990 shares of the company’s stock after purchasing an additional 54,991 shares during the quarter. K2 Principal Fund L.P. owned 2.47% of Fortune Rise Acquisition worth $1,744,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FRLA. Quarry LP acquired a new stake in Fortune Rise Acquisition in the fourth quarter valued at about $1,646,000. Clear Street LLC lifted its holdings in shares of Fortune Rise Acquisition by 86.1% in the 2nd quarter. Clear Street LLC now owns 251,793 shares of the company’s stock valued at $2,833,000 after buying an additional 116,523 shares during the period. Virtu Financial LLC purchased a new stake in shares of Fortune Rise Acquisition in the first quarter valued at approximately $251,000. Wolverine Asset Management LLC grew 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 worth $3,871,000 after acquiring an additional 83,626 shares during the period. Finally, Spartan Fund Management Inc. raised its position in Fortune Rise Acquisition by 172.8% in the second quarter. Spartan Fund Management Inc. now owns 85,399 shares of the company’s stock worth $961,000 after acquiring an additional 54,099 shares in the last quarter. Institutional investors and hedge funds own 52.89% of the company’s stock.

Fortune Rise Acquisition Stock Performance

Shares of NASDAQ FRLA opened at $11.38 on Tuesday. The company’s fifty day moving average is $11.29 and its two-hundred day moving average is $11.24. Fortune Rise Acquisition Co. has a one year low of $10.90 and a one year high of $11.87.

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.