Sona Asset Management US LLC Makes New $1.30 Million Investment in IG Acquisition Corp. $IGAC

Sona Asset Management US LLC bought a new stake in IG Acquisition Corp. (NASDAQ:IGAC) during the first quarter, HoldingsChannel reports. The institutional investor bought 131,000 shares of the company’s stock, valued at approximately $1,297,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IGAC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of IG Acquisition during the 4th quarter worth approximately $3,936,000. StoneX Group Inc. bought a new stake in shares of IG Acquisition in the 4th quarter worth approximately $1,121,000. First Trust Capital Management L.P. bought a new stake in shares of IG Acquisition in the 4th quarter worth approximately $4,920,000. Hudson Bay Capital Management LP purchased a new position in IG Acquisition in the fourth quarter valued at approximately $2,523,000. Finally, Berkley W R Corp purchased a new position in IG Acquisition in the fourth quarter valued at approximately $975,000. 38.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised IG Acquisition from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, IG Acquisition has an average rating of “Sell”.

IG Acquisition Stock Performance

Shares of IG Acquisition stock opened at $10.03 on Monday. IG Acquisition Corp. has a 52-week low of $9.82 and a 52-week high of $10.05. The stock’s 50-day simple moving average is $10.01 and its 200 day simple moving average is $9.96.

IG Acquisition (NASDAQ:IGAC) last released its quarterly earnings data on Friday, May 15th. The company reported $0.06 EPS for the quarter.

IG Acquisition Company Profile

IG Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.