Inflection Point Acquisition Corp. III (NASDAQ:IPCXU – Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 565 shares, a growth of 60.1% from the July 30th total of 353 shares. Based on an average daily volume of 263 shares, the days-to-cover ratio is currently 2.1 days.
Inflection Point Acquisition Corp. III Trading Down 0.2%
Shares of NASDAQ IPCXU traded down $0.01 during trading hours on Monday, reaching $4.98. The firm has a 50-day moving average price of $8.52 and a 200 day moving average price of $9.91. Inflection Point Acquisition Corp. III has a 12 month low of $4.70 and a 12 month high of $11.44.
Hedge Funds Weigh In On Inflection Point Acquisition Corp. III
Several institutional investors and hedge funds have recently made changes to their positions in the business. Moore Capital Management LP bought a new position in shares of Inflection Point Acquisition Corp. III during the second quarter valued at about $1,576,000. Whitebox Advisors LLC purchased a new stake in Inflection Point Acquisition Corp. III during the 2nd quarter valued at about $3,152,000. Finally, Gabelli Funds LLC purchased a new stake in Inflection Point Acquisition Corp. III during the 2nd quarter valued at about $1,126,000.
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.
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