Inflection Point Acquisition Corp. III (NASDAQ:IPCXU) Stock Price Up 0.8% – Here’s What Happened

Inflection Point Acquisition Corp. III (NASDAQ:IPCXU) shares rose 0.8% during trading on Wednesday . The stock traded as high as $10.70 and last traded at $10.70. Approximately 100 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 433 shares. The stock had previously closed at $10.62.

Inflection Point Acquisition Corp. III Stock Up 0.8%

The firm has a 50 day simple moving average of $10.61 and a 200-day simple moving average of $10.56.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IPCXU. Gabelli Funds LLC purchased a new position in Inflection Point Acquisition Corp. III in the second quarter worth $1,126,000. Clear Street Group Inc. acquired a new stake in Inflection Point Acquisition Corp. III in the third quarter worth about $1,169,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Inflection Point Acquisition Corp. III during the 2nd quarter worth approximately $1,500,000. Moore Capital Management LP purchased a new position in shares of Inflection Point Acquisition Corp. III during the 2nd quarter valued at about $1,576,000. Finally, DLD Asset Management LP purchased a new stake in shares of Inflection Point Acquisition Corp. III in the second quarter worth about $2,016,000.

About Inflection Point Acquisition Corp. III

Inflection Point Acquisition Corp. III is a Delaware-incorporated special purpose acquisition company (SPAC) that was formed in 2021 and is listed on the Nasdaq under the symbol IPCXU. As a blank-check vehicle, the company has no operating business of its own and was established to identify and complete a merger, capital stock exchange, asset acquisition or other business combination with one or more businesses.

The SPAC is sponsored by Inflection Point Capital Management LLC and focuses on sectors where the management team believes there is significant growth potential, including technology, consumer, healthcare and industrial markets.