Inflection Point Acquisition (NASDAQ:IPAX) Trading 0.7% Higher

Inflection Point Acquisition Corp. (NASDAQ:IPAX)’s share price shot up 0.7% on Friday . The company traded as high as $3.08 and last traded at $2.99. 259,281 shares changed hands during trading, a decline of 7% from the average session volume of 277,739 shares. The stock had previously closed at $2.97.

Inflection Point Acquisition Stock Up 0.7 %

The firm has a 50 day simple moving average of $3.77 and a two-hundred day simple moving average of $6.29.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC boosted its position in shares of Inflection Point Acquisition by 0.8% during the 2nd quarter. Citadel Advisors LLC now owns 2,146,487 shares of the company’s stock worth $20,736,000 after purchasing an additional 16,685 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Inflection Point Acquisition in the first quarter valued at $7,252,000. Goldman Sachs Group Inc. acquired a new stake in shares of Inflection Point Acquisition during the first quarter valued at $3,274,000. JPMorgan Chase & Co. acquired a new stake in shares of Inflection Point Acquisition during the 1st quarter worth about $1,924,000. Finally, Citigroup Inc. purchased a new stake in shares of Inflection Point Acquisition during the first quarter worth about $1,451,000. 94.74% of the stock is owned by hedge funds and other institutional investors.

Inflection Point Acquisition Company Profile

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.