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

IB Acquisition Corp. (NASDAQ:IBAC - Get Free Report) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 500 shares, a drop of 16.7% from the March 31st total of 600 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 12,600 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC increased its holdings in shares of IB Acquisition by 424.5% in the fourth quarter. Wolverine Asset Management LLC now owns 568,287 shares of the company's stock worth $5,754,000 after buying an additional 459,929 shares during the period. Berkley W R Corp grew its holdings in shares of IB Acquisition by 705.7% in the fourth quarter. Berkley W R Corp now owns 198,675 shares of the company's stock worth $2,012,000 after purchasing an additional 174,016 shares during the last quarter. Rivernorth Capital Management LLC increased its stake in shares of IB Acquisition by 11.3% in 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 period. Crossingbridge Advisors LLC grew its holdings in IB Acquisition by 23.7% in the 4th quarter. Crossingbridge Advisors LLC now owns 455,320 shares of the company's stock worth $4,612,000 after acquiring an additional 87,100 shares during the last quarter. Finally, Virtu Financial LLC increased its position in shares of IB Acquisition by 14.5% in the fourth quarter. Virtu Financial LLC now owns 105,524 shares of the company's stock valued at $1,069,000 after acquiring an additional 13,370 shares during the period.

IB Acquisition Price Performance

NASDAQ:IBAC traded down $0.01 on Monday, reaching $10.36. 101 shares of the company's stock were exchanged, compared to its average volume of 52,626. The stock has a fifty day simple moving average of $10.32 and a 200-day simple moving average of $10.20. IB Acquisition has a 52 week low of $9.93 and a 52 week high of $10.50.

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.