IB Acquisition Corp. (NASDAQ:IBAC - Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 500 shares, an increase of 25.0% from the May 15th total of 400 shares. Based on an average daily volume of 14,800 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company's shares are sold short.
Institutional Investors Weigh In On IB Acquisition
Several hedge funds and other institutional investors have recently made changes to their positions in IBAC. Toronto Dominion Bank bought a new position in IB Acquisition during the 4th quarter valued at about $7,507,000. Wolverine Asset Management LLC lifted its position in shares of IB Acquisition by 424.5% during the fourth quarter. Wolverine Asset Management LLC now owns 568,287 shares of the company's stock worth $5,754,000 after purchasing an additional 459,929 shares during the last quarter. Tabor Asset Management LP purchased a new stake in shares of IB Acquisition during the first quarter valued at $2,064,000. 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. Finally, Quarry LP purchased a new position in IB Acquisition in the 1st quarter worth about $1,032,000.
IB Acquisition Stock Performance
NASDAQ:IBAC traded down $0.01 during midday trading on Thursday, hitting $10.44. 6,680 shares of the company traded hands, compared to its average volume of 47,201. The firm's fifty day moving average is $10.41 and its 200-day moving average is $10.28. IB Acquisition has a 12-month low of $9.96 and a 12-month high of $10.51.
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.
See Also
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