Wolverine Asset Management LLC Raises Stock Position in Swiftmerge Acquisition Corp. (NASDAQ:IVCP)

Wolverine Asset Management LLC lifted its stake in Swiftmerge Acquisition Corp. (NASDAQ:IVCP) by 340.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,000 shares of the company’s stock after buying an additional 37,866 shares during the period. Wolverine Asset Management LLC owned approximately 0.72% of Swiftmerge Acquisition worth $541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in shares of Swiftmerge Acquisition during the first quarter worth about $562,000. Berkley W R Corp purchased a new position in Swiftmerge Acquisition during the 2nd quarter worth approximately $1,160,000. Sandia Investment Management LP acquired a new position in Swiftmerge Acquisition during the first quarter worth approximately $1,349,000. Finally, Quarry LP purchased a new stake in Swiftmerge Acquisition in the second quarter valued at approximately $6,088,000. 38.10% of the stock is currently owned by institutional investors and hedge funds.

Swiftmerge Acquisition Stock Performance

IVCP stock opened at $11.07 on Thursday. The business has a 50 day simple moving average of $11.06 and a 200-day simple moving average of $10.98. The company has a market capitalization of $75.72 million, a P/E ratio of 369.12 and a beta of 0.02. Swiftmerge Acquisition Corp. has a twelve month low of $10.45 and a twelve month high of $12.20.

Swiftmerge Acquisition (NASDAQ:IVCP) last issued its quarterly earnings data on Thursday, August 29th. The company reported ($0.05) earnings per share (EPS) for the quarter.

Swiftmerge Acquisition Profile

Swiftmerge Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in West Vancouver, Canada.