Adara Acquisition Corp. (NASDAQ: ADRA – Get a rating) jumped 0.1% on Friday. The stock traded as high as $9.92 and last traded at $9.92. 823 shares were traded during trading, down 97% from the average session volume of 31,883 shares. The stock previously closed at $9.91.
Performance of Adara’s acquisition shares
The company has a 50-day simple moving average of $9.88 and a two-hundred-day simple moving average of $9.85.
Institutional negotiation of the acquisition of Adara
Hedge funds have recently increased or reduced their stakes in the company. Saba Capital Management LP increased its stake in the shares of Adara Acquisition by 22.8% in the 1st quarter. Saba Capital Management LP now owns 365,766 shares of the company worth $3,614,000 after buying an additional 67,845 shares last quarter. Berkley WR Corp increased its stake in shares of Adara Acquisition by 14.0% in Q1. Berkley WR Corp now owns 161,827 shares of the company worth $1,599,000 after purchasing an additional 19,900 shares last quarter. SkyView Investment Advisors LLC bought a new stake in shares of Adara Acquisition in Q1 worth $1,455,000. Kohlberg Kravis Roberts & Co. LP increased its stake in shares of Adara Acquisition by 7.9% in the 1st quarter. Kohlberg Kravis Roberts & Co. LP now owns 111,649 shares of the company worth $1,103,000 after buying 8,150 additional shares last quarter. Finally, OTA Financial Group LP increased its stake in the shares of Adara Acquisition by 154.4% in the 2nd quarter. OTA Financial Group LP now owns 80,490 shares of the company worth $796,000 after purchasing an additional 48,856 shares last quarter. Institutional investors hold 64.54% of the company’s shares.
Adara Acquisition Company Profile
Adara Acquisition Corp. has no significant activities. The Company intends to enter into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. It focuses on finding companies in the consumer products industry and related sectors, including consumer industry companies in health and wellness, e-commerce, discretionary spending and information technology and related distribution channels.
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