IB Acquisition (NASDAQ:IBAC) Shares Up 0.2% - Here's Why

Key Points

• IB Acquisition Corp. (NASDAQ:IBAC) shares experienced a slight increase of 0.2%, trading at $10.62, with a significant drop in trading volume compared to its average.
• Several hedge funds have either initiated or increased their investments in IB Acquisition, including a notable 5,006.3% increase in position by Clear Street LLC.
• IB Acquisition Corp. is a blank check company focused on executing mergers and similar business combinations, based in Boca Raton, Florida.

IB Acquisition Corp. (NASDAQ:IBAC - )'s share price shot up 0.2% on Thursday . The stock traded as high as $10.60 and last traded at $10.62. 8,590 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 84,370 shares. The stock had previously closed at $10.60.

IB Acquisition Price Performance

The firm has a 50-day moving average of $10.55 and a two-hundred day moving average of $10.45.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mizuho Securities USA LLC purchased a new position in shares of IB Acquisition during the first quarter worth $126,000. Jane Street Group LLC purchased a new position in shares of IB Acquisition during the second quarter worth $135,000. Clear Street LLC boosted its position in shares of IB Acquisition by 5,006.3% during the second quarter. Clear Street LLC now owns 28,544 shares of the company's stock worth $299,000 after buying an additional 27,985 shares during the period. Quarry LP purchased a new position in shares of IB Acquisition during the first quarter worth $1,032,000. Finally, Tabor Asset Management LP purchased a new position in shares of IB Acquisition during the first quarter worth $2,064,000.

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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