Short Interest in Swiftmerge Acquisition Corp. (NASDAQ:IVCP) Expands By 163.2%

Swiftmerge Acquisition Corp. (NASDAQ:IVCP) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 5,000 shares, an increase of 163.2% from the November 15th total of 1,900 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 11,900 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of Swiftmerge Acquisition

Several large investors have recently made changes to their positions in the company. Berkley W R Corp boosted its stake in Swiftmerge Acquisition by 73.3% during the 3rd quarter. Berkley W R Corp now owns 184,447 shares of the company’s stock worth $2,034,000 after purchasing an additional 78,003 shares during the last quarter. Wolverine Asset Management LLC lifted its stake in shares of Swiftmerge Acquisition by 340.1% in the third quarter. Wolverine Asset Management LLC now owns 49,000 shares of the company’s stock worth $541,000 after buying an additional 37,866 shares in the last quarter. Finally, Quarry LP acquired a new position in Swiftmerge Acquisition during the second quarter worth about $6,088,000. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Swiftmerge Acquisition Trading Up 10.4 %

NASDAQ:IVCP opened at $10.50 on Friday. The stock has a 50 day moving average of $11.07 and a two-hundred day moving average of $11.02. Swiftmerge Acquisition has a 12 month low of $8.80 and a 12 month high of $13.39. The firm has a market cap of $71.82 million, a P/E ratio of -525.00 and a beta of 0.03.

Swiftmerge Acquisition Company Profile

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.