Shares of Inflection Point Acquisition Corp. (NASDAQ:IPAX – Get Free Report) dropped 3.1% on Tuesday . The company traded as low as $4.36 and last traded at $4.39. Approximately 251,421 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 277,739 shares. The stock had previously closed at $4.53.
Inflection Point Acquisition Trading Down 3.6 %
The stock’s fifty day simple moving average is $7.18 and its 200-day simple moving average is $9.66.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. HRT Financial LP purchased a new stake in shares of Inflection Point Acquisition during the 4th quarter worth $120,000. Boothbay Fund Management LLC purchased a new position in shares of Inflection Point Acquisition in the 4th quarter valued at about $192,000. Bank of Montreal Can acquired a new stake in shares of Inflection Point Acquisition during the 1st quarter worth about $287,000. Centiva Capital LP purchased a new stake in Inflection Point Acquisition during the fourth quarter worth approximately $300,000. Finally, First Trust Capital Management L.P. acquired a new position in Inflection Point Acquisition in the fourth quarter valued at approximately $420,000. Hedge funds and other institutional investors own 94.74% of the company’s stock.
About Inflection Point Acquisition
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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