Aqr Capital Management Holding Sells 122,309 Shares of IB Acquisition (NASDAQ:IBAC) Stock

Key Points

• Aqr Capital Management Holding sold 122,309 shares of IB Acquisition Corp. at an average price of $10.50, marking a 97.52% decrease in their ownership of the stock.
• IB Acquisition shares recently traded at $10.50 with a 12-month range of $10.01 to $11.45.
• Several hedge funds increased their stakes in IB Acquisition, with Wealthspring Capital LLC raising its holdings by 82.0% during the last quarter.

IB Acquisition Corp. (NASDAQ:IBAC - ) major shareholder Aqr Capital Management Holding sold 122,309 shares of IB Acquisition stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $10.50, for a total value of $1,284,244.50. Following the transaction, the insider owned 3,113 shares of the company's stock, valued at $32,686.50. This represents a 97.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

IB Acquisition Stock Performance

Shares of NASDAQ IBAC traded down $0.02 during midday trading on Wednesday, hitting $10.50. 34,731 shares of the company's stock were exchanged, compared to its average volume of 30,758. IB Acquisition Corp. has a 12 month low of $10.01 and a 12 month high of $11.45. The company's 50 day moving average price is $10.55 and its 200 day moving average price is $10.46.

Institutional Trading of IB Acquisition

Several hedge funds have recently added to or reduced their stakes in IBAC. Wealthspring Capital LLC lifted its holdings in IB Acquisition by 82.0% during the 2nd quarter. Wealthspring Capital LLC now owns 657,565 shares of the company's stock worth $6,865,000 after purchasing an additional 296,357 shares during the last quarter. Tabor Asset Management LP acquired a new position in IB Acquisition in the 1st quarter valued at $2,064,000. Quarry LP acquired a new position in IB Acquisition in the 1st quarter valued at $1,032,000. Wolverine Asset Management LLC raised its holdings in IB Acquisition by 16.6% in the 1st quarter. Wolverine Asset Management LLC now owns 662,496 shares of the company's stock valued at $6,824,000 after acquiring an additional 94,209 shares in the last quarter. Finally, Clear Street LLC raised its holdings in IB Acquisition by 5,006.3% in the 2nd quarter. Clear Street LLC now owns 28,544 shares of the company's stock valued at $299,000 after acquiring an additional 27,985 shares in the last quarter.

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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