IB Acquisition Corp. (NASDAQ:IBAC – Get Free Report) was the recipient of a large decrease in short interest in January. As of January 15th, there was short interest totalling 1,500 shares, a decrease of 81.5% from the December 31st total of 8,100 shares. Based on an average daily volume of 43,900 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the company’s stock are short sold.
IB Acquisition Stock Performance
Shares of NASDAQ:IBAC traded down $0.01 during mid-day trading on Wednesday, hitting $10.23. 2,355 shares of the company traded hands, compared to its average volume of 57,460. The firm’s 50 day simple moving average is $10.13 and its 200 day simple moving average is $10.06. IB Acquisition has a 52-week low of $9.93 and a 52-week high of $10.26.
Institutional Trading of IB Acquisition
A number of hedge funds have recently made changes to their positions in the company. Rivernorth Capital Management LLC boosted its stake in shares of IB Acquisition by 11.3% in the third quarter. Rivernorth Capital Management LLC now owns 150,000 shares of the company’s stock valued at $1,500,000 after purchasing an additional 15,270 shares during the period. Periscope Capital Inc. lifted its holdings in IB Acquisition by 9.1% in the 3rd quarter. Periscope Capital Inc. now owns 300,000 shares of the company’s stock worth $3,000,000 after buying an additional 25,000 shares in the last quarter. Virtu Financial LLC boosted its position in IB Acquisition by 60.7% in the 3rd quarter. Virtu Financial LLC now owns 92,154 shares of the company’s stock valued at $922,000 after buying an additional 34,812 shares during the last quarter. Dakota Wealth Management acquired a new stake in shares of IB Acquisition during the third quarter valued at about $682,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of IB Acquisition during the third quarter worth about $1,084,000.
IB Acquisition Company Profile
IB Acquisition Corp. is a blank check company. It formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses or entities. IB Acquisition Corp. is based in Boca Raton, Florida.
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