IB Acquisition (NASDAQ:IBAC) Trading Down 0.2% - Time to Sell?

Shares of IB Acquisition Corp. (NASDAQ:IBAC - Get Free Report) dropped 0.2% during trading on Wednesday . The stock traded as low as $10.46 and last traded at $10.44. Approximately 2,630 shares traded hands during trading, a decline of 94% from the average daily volume of 44,803 shares. The stock had previously closed at $10.46.

IB Acquisition Trading Up 0.5%

The company's fifty day moving average is $10.42 and its 200 day moving average is $10.30.

Hedge Funds Weigh In On IB Acquisition

Several institutional investors and hedge funds have recently made changes to their positions in IBAC. Toronto Dominion Bank bought a new stake in IB Acquisition in the 4th quarter worth $7,507,000. Wolverine Asset Management LLC grew 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 worth $6,824,000 after acquiring an additional 94,209 shares during the last quarter. 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. Tabor Asset Management LP bought a new stake in IB Acquisition in the 1st quarter worth $2,064,000. Finally, Berkley W R Corp grew its holdings in IB Acquisition by 705.7% in the 4th quarter. Berkley W R Corp now owns 198,675 shares of the company's stock worth $2,012,000 after acquiring an additional 174,016 shares during 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.