IB Acquisition Corp. (NASDAQ:IBAC - Get Free Report) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 400 shares, a decrease of 20.0% from the April 30th total of 500 shares. Based on an average daily trading volume, of 12,800 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.
Institutional Trading of IB Acquisition
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC purchased a new position in IB Acquisition in the 1st quarter valued at about $126,000. Quarry LP acquired a new position in shares of IB Acquisition in the first quarter valued at approximately $1,032,000. Virtu Financial LLC lifted its stake in shares of IB Acquisition by 14.5% during the fourth quarter. Virtu Financial LLC now owns 105,524 shares of the company's stock valued at $1,069,000 after buying an additional 13,370 shares during the period. Berkley W R Corp boosted its position in IB Acquisition by 705.7% during the fourth 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. Finally, Tabor Asset Management LP acquired a new stake in IB Acquisition during the first quarter worth approximately $2,064,000.
IB Acquisition Stock Performance
Shares of NASDAQ IBAC traded up $0.02 during trading on Thursday, reaching $10.44. The company had a trading volume of 355,800 shares, compared to its average volume of 48,032. IB Acquisition has a twelve month low of $9.96 and a twelve month high of $10.51. The stock has a 50-day moving average price of $10.39 and a two-hundred day moving average price of $10.26.
About IB Acquisition
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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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