IB Acquisition Corp. (NASDAQ:IBAC) Sees Significant Drop in Short Interest

IB Acquisition Corp. (NASDAQ:IBAC) was the target of a large decrease in short interest in the month of 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. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 43,900 shares, the days-to-cover ratio is currently 0.0 days.

IB Acquisition Trading Down 0.1 %

IB Acquisition stock traded down $0.01 during mid-day trading on Wednesday, reaching $10.23. The company had a trading volume of 2,355 shares, compared to its average volume of 57,460. The stock’s 50-day simple moving average is $10.13 and its 200-day simple moving average is $10.06. IB Acquisition has a 1 year low of $9.93 and a 1 year high of $10.26.

Hedge Funds Weigh In On IB Acquisition

Several hedge funds have recently bought and sold shares of the company. Dakota Wealth Management purchased a new stake in shares of IB Acquisition in the third quarter valued at about $682,000. Wolverine Asset Management LLC acquired a new position in IB Acquisition in the third quarter valued at $1,084,000. Periscope Capital Inc. lifted its holdings in shares of IB Acquisition by 9.1% during the 3rd quarter. Periscope Capital Inc. now owns 300,000 shares of the company’s stock worth $3,000,000 after acquiring an additional 25,000 shares during the period. Virtu Financial LLC boosted its position in shares of IB Acquisition by 60.7% in the third quarter. Virtu Financial LLC now owns 92,154 shares of the company’s stock worth $922,000 after acquiring an additional 34,812 shares during the last quarter. Finally, Rivernorth Capital Management LLC grew its holdings in 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.

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.