Short Interest in IB Acquisition Corp. (NASDAQ:IBAC) Rises By 20.5%

IB Acquisition Corp. (NASDAQ:IBAC) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 8,800 shares, a growth of 20.5% from the September 30th total of 7,300 shares. Based on an average daily volume of 21,700 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the company’s shares are sold short.

IB Acquisition Price Performance

Shares of IB Acquisition stock traded down $0.01 during mid-day trading on Wednesday, hitting $10.07. 8,908 shares of the stock were exchanged, compared to its average volume of 77,102. IB Acquisition has a twelve month low of $9.93 and a twelve month high of $10.26. The stock has a 50-day moving average of $10.02.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IBAC. SkyView Investment Advisors LLC purchased a new position in IB Acquisition in the second quarter valued at approximately $748,000. Highbridge Capital Management LLC purchased a new stake in shares of IB Acquisition during the second quarter valued at approximately $1,995,000. Cowen AND Company LLC purchased a new stake in shares of IB Acquisition during the second quarter valued at approximately $3,593,000. Dakota Wealth Management purchased a new stake in shares of IB Acquisition during the third quarter valued at approximately $682,000. Finally, K2 Principal Fund L.P. acquired a new stake in shares of IB Acquisition during the second quarter worth approximately $1,496,000.

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.