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

IB Acquisition Corp. (NASDAQ:IBAC - Get Free Report) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 600 shares, a drop of 53.8% from the March 15th total of 1,300 shares. Based on an average trading volume of 20,800 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company's stock are short sold.

IB Acquisition Stock Performance

Shares of IBAC traded up $0.03 during mid-day trading on Monday, reaching $10.37. 6,602 shares of the company's stock were exchanged, compared to its average volume of 56,596. The business's fifty day simple moving average is $10.30 and its 200-day simple moving average is $10.18. IB Acquisition has a 52-week low of $9.93 and a 52-week high of $10.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC boosted its position in shares of IB Acquisition by 60.7% in the third quarter. Virtu Financial LLC now owns 92,154 shares of the company's stock worth $922,000 after buying an additional 34,812 shares during the period. Rivernorth Capital Management LLC increased its stake in IB Acquisition by 11.3% during the 3rd quarter. Rivernorth Capital Management LLC now owns 150,000 shares of the company's stock valued at $1,500,000 after buying an additional 15,270 shares during the period. Berkley W R Corp grew its holdings 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 period. Crossingbridge Advisors LLC increased its holdings in shares of IB Acquisition by 23.7% in the fourth quarter. Crossingbridge Advisors LLC now owns 455,320 shares of the company's stock valued at $4,612,000 after buying an additional 87,100 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its position in IB Acquisition by 424.5% during the 4th quarter. Wolverine Asset Management LLC now owns 568,287 shares of the company's stock worth $5,754,000 after acquiring an additional 459,929 shares during the period.

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.