Rising Dragon Acquisition (RDAC) surges 351% as thin float SPAC volatility returns

By: Quiver PriceTracker

Posted: 1 day, 17 hours ago / April 29, 2026 9:21 p.m. UTC

RDAC

Rising Dragon Acquisition Corp. (RDAC) is up 351.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The move looks most consistent with a low-float SPAC volatility squeeze rather than a new fundamental announcement. RDAC has had significant share redemptions tied to its pending business combination, which can leave relatively few shares available to trade and amplify price swings.

Details:

An SEC filing tied to the November 20, 2025 shareholder meeting disclosed that 5,715,609 ordinary shares were tendered for redemption in connection with the vote, a dynamic that can sharply reduce effective trading supply.

RDAC has continued to use short-term sponsor/counterparty funding (promissory notes deposited into the trust) to extend the timeline to complete its initial business combination, keeping the deal-driven trading narrative active.

Trading was interrupted by at least one limit up/limit down volatility pause during today’s session, a common feature of sharp momentum runs in thinly traded names.

This could also be fueled by speculative positioning ahead of any further deal process updates, given the stock’s history of redemption-driven float sensitivity.

Sources:

SEC, HaltAlerts, StockAnalysis, StockTitan

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$RDAC Hedge Fund Activity

We have seen 4 institutional investors add shares of $RDAC stock to their portfolio, and 9 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

KARPUS MANAGEMENT, INC. removed 750,300 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $7,367,946
CABLE CAR CAPITAL, LP removed 573,062 shares (-76.2%) from their portfolio in Q4 2025, for an estimated $5,627,468
POLAR ASSET MANAGEMENT PARTNERS INC. removed 500,000 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $4,910,000
WOLVERINE ASSET MANAGEMENT LLC removed 194,312 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $1,908,143
JPMORGAN CHASE & CO removed 49,931 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $490,322
WARBERG ASSET MANAGEMENT LLC removed 45,979 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $451,513
HEIGHTS CAPITAL MANAGEMENT, INC removed 38,196 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $375,084

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.