IB Acquisition Corp. (NASDAQ:IBAC - Get Free Report) was the recipient of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 47,100 shares, an increase of 26.3% from the July 31st total of 37,300 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 104,200 shares, the days-to-cover ratio is currently 0.5 days.
IB Acquisition Price Performance
IB Acquisition stock traded up $0.03 during mid-day trading on Friday, reaching $10.02. The company's stock had a trading volume of 9,961 shares, compared to its average volume of 11,995. The firm's 50 day moving average is $10.00. IB Acquisition has a twelve month low of $9.93 and a twelve month high of $10.12.
Institutional Investors Weigh In On IB Acquisition
A number of hedge funds have recently added to or reduced their stakes in the stock. Berkley W R Corp bought a new stake in IB Acquisition in the second quarter valued at $246,000. Condor Capital Management bought a new stake in IB Acquisition in the second quarter valued at $422,000. SkyView Investment Advisors LLC bought a new stake in IB Acquisition in the second quarter valued at $748,000. Clear Street LLC bought a new stake in IB Acquisition in the second quarter valued at $1,395,000. Finally, K2 Principal Fund L.P. bought a new stake in shares of IB Acquisition during the second quarter valued at about $1,496,000.
IB Acquisition Company Profile
(
Get Free Report)
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.
Further Reading
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