IB Acquisition Corp. (NASDAQ:IBAC – Get Free Report) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 8,100 shares, a growth of 11.0% from the November 30th total of 7,300 shares. Based on an average daily trading volume, of 34,400 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s stock are short sold.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Berkley W R Corp purchased a new stake in shares of IB Acquisition in the 2nd quarter worth approximately $246,000. Condor Capital Management bought a new stake in IB Acquisition during the second quarter valued at about $422,000. Dakota Wealth Management purchased a new position in IB Acquisition in the third quarter valued at about $682,000. SkyView Investment Advisors LLC bought a new position in IB Acquisition in the second quarter worth about $748,000. Finally, Virtu Financial LLC lifted its position in shares of IB Acquisition by 60.7% during the third 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.
IB Acquisition Stock Performance
Shares of IBAC remained flat at $10.13 during midday trading on Wednesday. The stock had a trading volume of 215,697 shares, compared to its average volume of 69,670. IB Acquisition has a fifty-two week low of $9.93 and a fifty-two week high of $10.26. The firm has a 50 day moving average price of $10.09 and a 200 day moving average price of $10.03.
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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