PRA

ProAssurance (PRA) is exhibiting classic **Merger Arbitrage** behavior, pinned tightly against the $25.00 acquisition offer from The Doctors Company (announced March 2025, pending 1H 2026 close). The 'Breakout' signal and new 52-week high ($24.62) reflect the price compressing the deal spread to ~2% as closing certainty increases, while the extremely low realized volatility (4.4%) confirms the stock is effectively tethered to the deal price. The 2.5x volume spike indicates institutional rotation, likely arbitrage desks absorbing shares from long-term holders or index funds rebalancing.