Investcorp India Acquisition (NASDAQ:IVCA) Shares Down 0.7% – Should You Sell?

Shares of Investcorp India Acquisition Corp (NASDAQ:IVCA) dropped 0.7% on Friday . The stock traded as low as $11.85 and last traded at $11.92. Approximately 2,859 shares changed hands during mid-day trading, an increase of 304% from the average daily volume of 708 shares. The stock had previously closed at $12.00.

Investcorp India Acquisition Trading Down 0.7 %

The company’s 50 day simple moving average is $11.80 and its 200-day simple moving average is $11.63.

Hedge Funds Weigh In On Investcorp India Acquisition

A hedge fund recently raised its stake in Investcorp India Acquisition stock. Quarry LP lifted its holdings in Investcorp India Acquisition Corp (NASDAQ:IVCA) by 23.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,667 shares of the company’s stock after purchasing an additional 11,667 shares during the period. Quarry LP owned 0.38% of Investcorp India Acquisition worth $700,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 55.98% of the company’s stock.

Investcorp India Acquisition Company Profile

Investcorp India Acquisition Corp does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses. The company was formerly known as Investcorp Acquisition Corp.