IB Acquisition Corp. (NASDAQ:IBAC) Shares Bought by Periscope Capital Inc.

Periscope Capital Inc. lifted its stake in shares of IB Acquisition Corp. (NASDAQ:IBAC) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 300,000 shares of the company’s stock after acquiring an additional 25,000 shares during the quarter. IB Acquisition comprises about 1.6% of Periscope Capital Inc.’s investment portfolio, making the stock its 17th biggest holding. Periscope Capital Inc. owned 2.18% of IB Acquisition worth $3,000,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBAC. Cowen AND Company LLC acquired a new position in shares of IB Acquisition during the 2nd quarter valued at $3,593,000. CVI Holdings LLC acquired a new position in IB Acquisition during the second quarter worth about $2,494,000. Context Capital Management LLC bought a new stake in IB Acquisition in the second quarter worth about $1,994,000. Highbridge Capital Management LLC acquired a new stake in IB Acquisition in the 2nd quarter valued at about $1,995,000. Finally, K2 Principal Fund L.P. bought a new position in shares of IB Acquisition during the 2nd quarter valued at about $1,496,000.

IB Acquisition Stock Performance

Shares of IBAC opened at $10.06 on Friday. The stock has a 50 day simple moving average of $10.04. IB Acquisition Corp. has a 12-month low of $9.93 and a 12-month high of $10.26.

IB Acquisition 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.