Spartan Fund Management Inc. Acquires 48,063 Shares of Fortune Rise Acquisition Co. (NASDAQ:FRLA)

Spartan Fund Management Inc. raised its holdings in shares of Fortune Rise Acquisition Co. (NASDAQ:FRLA) by 56.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,462 shares of the company’s stock after purchasing an additional 48,063 shares during the quarter. Fortune Rise Acquisition makes up 4.6% of Spartan Fund Management Inc.’s holdings, making the stock its 7th biggest position. Spartan Fund Management Inc. owned about 2.13% of Fortune Rise Acquisition worth $1,519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FRLA. Virtu Financial LLC bought a new position in shares of Fortune Rise Acquisition in the first quarter worth about $251,000. SkyView Investment Advisors LLC boosted its position 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 buying an additional 43,000 shares in the last quarter. K2 Principal Fund L.P. grew its position in Fortune Rise Acquisition by 55.0% during the 2nd quarter. K2 Principal Fund L.P. now owns 154,990 shares of the company’s stock worth $1,744,000 after acquiring an additional 54,991 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in shares of 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 purchasing an additional 83,626 shares during the last quarter. Finally, Clear Street LLC grew its holdings in Fortune Rise Acquisition by 86.1% during the 2nd quarter. Clear Street LLC now owns 251,793 shares of the company’s stock worth $2,833,000 after acquiring an additional 116,523 shares during the last quarter. Institutional investors own 52.89% of the company’s stock.

Fortune Rise Acquisition Stock Performance

Shares of Fortune Rise Acquisition stock remained flat at $11.38 during trading on Tuesday. The stock has a 50 day moving average of $11.34 and a two-hundred day moving average of $11.28. Fortune Rise Acquisition Co. has a fifty-two week low of $10.94 and a fifty-two week 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.