Swiftmerge Acquisition Corp. (NASDAQ:IVCP) Sees Large Growth in Short Interest

Swiftmerge Acquisition Corp. (NASDAQ:IVCPGet Rating) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 7,900 shares, an increase of 172.4% from the July 15th total of 2,900 shares. Based on an average daily volume of 26,100 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the shares of the company are short sold.

Institutional Trading of Swiftmerge Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in IVCP. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Swiftmerge Acquisition during the 1st quarter valued at $142,000. Sage Mountain Advisors LLC bought a new stake in shares of Swiftmerge Acquisition during the 2nd quarter valued at $246,000. Robinson Capital Management LLC bought a new position in Swiftmerge Acquisition in the 2nd quarter worth about $262,000. Ramius Advisors LLC bought a new position in Swiftmerge Acquisition in the 1st quarter worth about $344,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Swiftmerge Acquisition in the 1st quarter worth about $491,000. 55.78% of the stock is currently owned by institutional investors.

Swiftmerge Acquisition Stock Performance

NASDAQ:IVCP opened at $9.89 on Thursday. Swiftmerge Acquisition has a 52-week low of $9.67 and a 52-week high of $11.37. The company’s fifty day moving average is $9.84.

About Swiftmerge Acquisition

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Swiftmerge 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 or entities. The company was incorporated in 2021 and is based in West Vancouver, Canada.

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