Swiftmerge Acquisition Corp. (NASDAQ:IVCP - Get Free Report) shares dropped 3.8% during mid-day trading on Monday . The company traded as low as $9.30 and last traded at $9.95. Approximately 7,383 shares traded hands during trading, a decline of 70% from the average daily volume of 24,355 shares. The stock had previously closed at $10.34.
Swiftmerge Acquisition Stock Down 4.3 %
The company has a market cap of $61.56 million, a PE ratio of -450.00 and a beta of 0.03. The business's 50 day moving average price is $9.04 and its 200-day moving average price is $10.36.
Institutional Trading of Swiftmerge Acquisition
A hedge fund recently raised its stake in Swiftmerge Acquisition stock. Wolverine Asset Management LLC lifted its stake in shares of Swiftmerge Acquisition Corp. (NASDAQ:IVCP - Free Report) by 340.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,000 shares of the company's stock after buying an additional 37,866 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.72% of Swiftmerge Acquisition worth $541,000 as of its most recent filing with the Securities and Exchange Commission. 38.10% of the stock is currently owned by hedge funds and other institutional investors.
About Swiftmerge Acquisition
(
Get Free Report)
Swiftmerge Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in West Vancouver, Canada.
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