IG Acquisition Corp. (NASDAQ:IGACR) Short Interest Update

IG Acquisition Corp. (NASDAQ:IGACR) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 14,985 shares, a growth of 16,928.4% from the July 30th total of 88 shares. Based on an average trading volume of 3,322 shares, the days-to-cover ratio is currently 4.5 days.

IG Acquisition Price Performance

Shares of IG Acquisition stock traded down $0.01 during mid-day trading on Tuesday, hitting $0.15. 9,096 shares of the stock were exchanged, compared to its average volume of 38,504. The stock has a 50-day moving average of $0.17. IG Acquisition has a twelve month low of $0.13 and a twelve month high of $0.21.

Institutional Investors Weigh In On IG Acquisition

Hedge funds have recently modified their holdings of the stock. Clear Street Group Inc. acquired a new position in shares of IG Acquisition in the 4th quarter valued at $44,000. Polar Asset Management Partners Inc. acquired a new stake in IG Acquisition during the first quarter worth about $48,000. Context Capital Management LLC acquired a new stake in IG Acquisition during the fourth quarter worth about $48,000. Hudson Bay Capital Management LP acquired a new stake in IG Acquisition during the 4th quarter worth approximately $49,000. Finally, Verition Fund Management LLC acquired a new stake in shares of IG Acquisition in the fourth quarter worth $74,000.

IG Acquisition (NASDAQ: IGACR) is a special purpose acquisition company (SPAC), commonly referred to as a blank-check company. Its principal business activity is to raise capital through public securities offerings for the purpose of identifying, acquiring, or merging with one or more businesses. Like other SPACs, IG Acquisition does not operate a traditional, ongoing commercial business of its own; instead it serves as a vehicle to facilitate a business combination that would result in an operating company becoming publicly listed.

The company’s securities structure reflects typical SPAC conventions, with units, common stock and publicly traded rights indicated by tickers such as IGACR.