IB Acquisition Corp. (NASDAQ:IBAC) Short Interest Down 81.5% in January

IB Acquisition Corp. (NASDAQ:IBAC) was the target of a large drop in short interest in January. As of January 15th, there was short interest totalling 1,500 shares, a drop of 81.5% from the December 31st total of 8,100 shares. Based on an average daily volume of 43,900 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dakota Wealth Management bought a new position in shares of IB Acquisition in the 3rd quarter valued at about $682,000. Virtu Financial LLC lifted its holdings in IB Acquisition by 60.7% during the third quarter. Virtu Financial LLC now owns 92,154 shares of the company’s stock worth $922,000 after acquiring an additional 34,812 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in IB Acquisition during the 3rd quarter worth approximately $1,084,000. Rivernorth Capital Management LLC boosted its holdings in shares of IB Acquisition by 11.3% in the third 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. Finally, Periscope Capital Inc. boosted its stake in IB Acquisition by 9.1% in the 3rd quarter. Periscope Capital Inc. now owns 300,000 shares of the company’s stock worth $3,000,000 after purchasing an additional 25,000 shares during the period.

IB Acquisition Stock Up 0.2 %

Shares of IBAC stock traded up $0.02 during trading on Tuesday, reaching $10.23. The company had a trading volume of 9,374 shares, compared to its average volume of 61,138. The firm’s 50 day simple moving average is $10.13 and its two-hundred day simple moving average is $10.06. IB Acquisition has a one year low of $9.93 and a one year high of $10.26.

About IB Acquisition

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.