InterPrivate II Acquisition Corp. (NYSE:IPVA – Get Rating) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 6,800 shares, an increase of 300.0% from the March 31st total of 1,700 shares. Based on an average daily volume of 12,300 shares, the days-to-cover ratio is presently 0.6 days.
IPVA stock opened at $9.80 on Thursday. The firm has a fifty day moving average price of $9.76 and a 200 day moving average price of $9.75. InterPrivate II Acquisition has a fifty-two week low of $9.52 and a fifty-two week high of $10.71.
A number of hedge funds and other institutional investors have recently bought and sold shares of IPVA. JPMorgan Chase & Co. purchased a new position in InterPrivate II Acquisition during the fourth quarter worth $2,086,000. Credit Suisse AG purchased a new position in InterPrivate II Acquisition during the third quarter worth $464,000. Toroso Investments LLC boosted its stake in InterPrivate II Acquisition by 107.9% during the fourth quarter. Toroso Investments LLC now owns 21,544 shares of the company’s stock worth $209,000 after buying an additional 11,179 shares during the period. Finally, Saba Capital Management L.P. boosted its stake in InterPrivate II Acquisition by 0.4% during the fourth quarter. Saba Capital Management L.P. now owns 268,758 shares of the company’s stock worth $2,607,000 after buying an additional 1,130 shares during the period. 72.31% of the stock is owned by institutional investors.
InterPrivate II Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, 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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