IG Acquisition Corp. (NASDAQ:IGAC) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 38,800 shares, a decrease of 34.8% from the August 15th total of 59,500 shares. Based on an average daily trading volume, of 60,800 shares, the short-interest ratio is presently 0.6 days. Approximately 0.1% of the shares of the stock are sold short.
A number of hedge funds have recently modified their holdings of the business. Periscope Capital Inc. increased its stake in IG Acquisition by 5.3% in the 2nd quarter. Periscope Capital Inc. now owns 1,897,300 shares of the company’s stock worth $18,480,000 after buying an additional 94,700 shares in the last quarter. Aristeia Capital LLC grew its position in shares of IG Acquisition by 453.1% during the first quarter. Aristeia Capital LLC now owns 1,205,678 shares of the company’s stock valued at $11,912,000 after purchasing an additional 987,678 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of IG Acquisition by 72.4% during the first quarter. Goldman Sachs Group Inc. now owns 525,969 shares of the company’s stock valued at $5,197,000 after purchasing an additional 220,969 shares in the last quarter. Bulldog Investors LLP purchased a new position in shares of IG Acquisition during the first quarter valued at about $5,190,000. Finally, Shaolin Capital Management LLC grew its position in shares of IG Acquisition by 3.1% during the second quarter. Shaolin Capital Management LLC now owns 411,383 shares of the company’s stock valued at $4,007,000 after purchasing an additional 12,418 shares in the last quarter. Institutional investors and hedge funds own 57.97% of the company’s stock.
IGAC stock traded down $0.02 during trading on Friday, reaching $9.79. The company’s stock had a trading volume of 13,460 shares, compared to its average volume of 36,858. IG Acquisition has a 1 year low of $9.58 and a 1 year high of $11.25. The company’s fifty day moving average is $9.75 and its 200-day moving average is $9.80.
IG Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.
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