IB Acquisition Corp. (NASDAQ:IBAC - Get Free Report) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 800 shares, a decline of 89.9% from the January 15th total of 7,900 shares. Approximately 0.0% of the company's shares are sold short. Based on an average trading volume of 41,500 shares, the days-to-cover ratio is presently 0.0 days.
Institutional Investors Weigh In On IB Acquisition
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dakota Wealth Management purchased a new position in shares of IB Acquisition during the third quarter worth approximately $682,000. Wolverine Asset Management LLC purchased a new position in IB Acquisition during the 3rd quarter worth $1,084,000. Periscope Capital Inc. raised its position in IB Acquisition by 9.1% during the 3rd quarter. Periscope Capital Inc. now owns 300,000 shares of the company's stock valued at $3,000,000 after purchasing an additional 25,000 shares in the last quarter. Virtu Financial LLC lifted its holdings in shares of IB Acquisition by 60.7% in the 3rd quarter. Virtu Financial LLC now owns 92,154 shares of the company's stock worth $922,000 after buying an additional 34,812 shares during the period. Finally, Rivernorth Capital Management LLC grew its position in shares of IB Acquisition by 11.3% during the 3rd quarter. Rivernorth Capital Management LLC now owns 150,000 shares of the company's stock worth $1,500,000 after buying an additional 15,270 shares in the last quarter.
IB Acquisition Stock Up 0.1 %
Shares of NASDAQ:IBAC traded up $0.01 on Friday, hitting $10.23. 728 shares of the company's stock were exchanged, compared to its average volume of 32,386. IB Acquisition has a 12 month low of $9.93 and a 12 month high of $10.45. The business's 50 day simple moving average is $10.17 and its two-hundred day simple moving average is $10.08.
About IB Acquisition
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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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