Inflection Point Acquisition Corp. (NASDAQ:IPAX – Get Rating) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 15,900 shares, a decrease of 7.0% from the September 30th total of 17,100 shares. Based on an average daily volume of 68,100 shares, the short-interest ratio is currently 0.2 days.
Hedge Funds Weigh In On Inflection Point Acquisition
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Calamos Advisors LLC bought a new position in shares of Inflection Point Acquisition during the third quarter valued at approximately $9,820,000. CSS LLC IL bought a new position in shares of Inflection Point Acquisition during the second quarter valued at approximately $1,448,000. Citadel Advisors LLC increased its stake in shares of Inflection Point Acquisition by 0.8% during the second quarter. Citadel Advisors LLC now owns 2,146,487 shares of the company's stock valued at $20,736,000 after purchasing an additional 16,685 shares in the last quarter. Hudson Bay Capital Management LP increased its stake in shares of Inflection Point Acquisition by 6.9% during the second quarter. Hudson Bay Capital Management LP now owns 3,100,000 shares of the company's stock valued at $29,946,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Inflection Point Acquisition by 193.4% during the second quarter. Bank of Montreal Can now owns 86,858 shares of the company's stock valued at $842,000 after purchasing an additional 57,258 shares in the last quarter. Institutional investors own 56.80% of the company's stock.
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Inflection Point Acquisition Stock Performance
IPAX traded up $0.03 on Monday, hitting $9.88. The company had a trading volume of 135,373 shares, compared to its average volume of 64,145. Inflection Point Acquisition has a 52-week low of $9.55 and a 52-week high of $9.90. The stock has a fifty day simple moving average of $9.80 and a 200-day simple moving average of $9.73.
Inflection Point Acquisition Company Profile
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Inflection Point Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the consumer and technology industries. The company was incorporated in 2021 and is based in New York, New York.
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