Swiftmerge Acquisition (NASDAQ:IVCP) Trading Down 3.8% – Should You Sell?

Shares of Swiftmerge Acquisition Corp. (NASDAQ:IVCP) dropped 3.8% on Monday . The stock traded as low as $9.30 and last traded at $9.95. Approximately 7,383 shares were traded during trading, a decline of 70% from the average daily volume of 24,355 shares. The stock had previously closed at $10.34.

Swiftmerge Acquisition Trading Down 5.5 %

The company has a 50-day moving average of $9.08 and a 200-day moving average of $10.38. The company has a market capitalization of $64.30 million, a price-to-earnings ratio of -470.00 and a beta of 0.03.

Institutional Trading of Swiftmerge Acquisition

An institutional investor recently raised its position in Swiftmerge Acquisition stock. Berkley W R Corp grew its stake in Swiftmerge Acquisition Corp. (NASDAQ:IVCP) by 73.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,447 shares of the company’s stock after buying an additional 78,003 shares during the period. Berkley W R Corp owned 2.70% of Swiftmerge Acquisition worth $2,034,000 at the end of the most recent quarter. 38.10% of the stock is owned by institutional investors.

Swiftmerge Acquisition Company 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.