Crossingbridge Advisors LLC Lowers Position in IB Acquisition Corp. (NASDAQ:IBAC)

Crossingbridge Advisors LLC lessened its stake in IB Acquisition Corp. (NASDAQ:IBAC) by 1.8% in the third quarter, HoldingsChannel reports. The firm owned 368,220 shares of the company’s stock after selling 6,780 shares during the period. IB Acquisition makes up approximately 2.8% of Crossingbridge Advisors LLC’s holdings, making the stock its 9th largest holding. Crossingbridge Advisors LLC’s holdings in IB Acquisition were worth $3,690,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cowen AND Company LLC bought a new stake in shares of IB Acquisition during the 2nd quarter valued at about $3,593,000. Condor Capital Management purchased a new position in shares of IB Acquisition in the second quarter worth approximately $422,000. Context Capital Management LLC bought a new stake in IB Acquisition during the second quarter valued at approximately $1,994,000. Highbridge Capital Management LLC purchased a new stake in IB Acquisition during the second quarter valued at approximately $1,995,000. Finally, Clear Street LLC bought a new position in IB Acquisition in the second quarter worth approximately $1,395,000.

IB Acquisition Stock Performance

Shares of IB Acquisition stock opened at $10.06 on Tuesday. IB Acquisition Corp. has a 1-year low of $9.93 and a 1-year high of $10.26. The company’s fifty day simple moving average is $10.04 and its 200-day simple moving average is $10.01.

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.