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

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Rivernorth Capital Management LLC raised 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 worth $1,500,000 after acquiring an additional 15,270 shares in the last quarter. Virtu Financial LLC increased its position in shares of 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 purchasing an additional 34,812 shares in the last quarter. Periscope Capital Inc. lifted its holdings in shares of IB Acquisition by 9.1% in the 3rd quarter. Periscope Capital Inc. now owns 300,000 shares of the company’s stock valued at $3,000,000 after purchasing an additional 25,000 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of IB Acquisition in the 3rd quarter valued at about $1,084,000. Finally, Dakota Wealth Management purchased a new position in IB Acquisition during the 3rd quarter worth approximately $682,000.

IB Acquisition Stock Performance

NASDAQ:IBAC traded down $0.01 during trading hours on Monday, hitting $10.15. The company’s stock had a trading volume of 2,076 shares, compared to its average volume of 49,263. The stock has a fifty day moving average of $10.10 and a 200-day moving average of $10.04. IB Acquisition has a 52-week low of $9.93 and a 52-week 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.