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

IB Acquisition Corp. (NASDAQ:IBAC) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 1,500 shares, a decline of 81.5% from the December 31st total of 8,100 shares. Based on an average daily volume of 43,900 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Institutional Trading of IB Acquisition

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dakota Wealth Management bought a new position in IB Acquisition during the third quarter worth $682,000. Wolverine Asset Management LLC bought a new stake in IB Acquisition during the 3rd quarter valued at $1,084,000. Rivernorth Capital Management LLC raised its holdings in IB Acquisition by 11.3% during the third quarter. Rivernorth Capital Management LLC now owns 150,000 shares of the company’s stock worth $1,500,000 after buying an additional 15,270 shares during the last quarter. Periscope Capital Inc. increased its position in shares of IB Acquisition by 9.1% during the third 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 in the last quarter. Finally, Virtu Financial LLC raised its holdings in shares of IB Acquisition by 60.7% in the 3rd 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.

IB Acquisition Stock Up 0.2 %

Shares of NASDAQ IBAC traded up $0.02 during mid-day trading on Tuesday, reaching $10.23. The company had a trading volume of 9,374 shares, compared to its average volume of 61,138. IB Acquisition has a one year low of $9.93 and a one year high of $10.26. The business’s 50-day simple moving average is $10.13 and its 200 day simple moving average is $10.06.

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.