Wolverine Asset Management LLC Increases Stock Position in Swiftmerge Acquisition Corp. (NASDAQ:IVCP)

Wolverine Asset Management LLC lifted its holdings in shares of Swiftmerge Acquisition Corp. (NASDAQ:IVCP) by 340.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,000 shares of the company’s stock after buying an additional 37,866 shares during the period. Wolverine Asset Management LLC’s holdings in Swiftmerge Acquisition were worth $541,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Virtu Financial LLC acquired a new stake in shares of Swiftmerge Acquisition in the 1st quarter worth approximately $562,000. Berkley W R Corp purchased a new stake in Swiftmerge Acquisition during the second quarter worth $1,160,000. Sandia Investment Management LP purchased a new stake in Swiftmerge Acquisition during the first quarter worth $1,349,000. Finally, Quarry LP acquired a new stake in Swiftmerge Acquisition in the second quarter valued at $6,088,000. 38.10% of the stock is owned by institutional investors and hedge funds.

Swiftmerge Acquisition Price Performance

NASDAQ:IVCP opened at $11.07 on Thursday. Swiftmerge Acquisition Corp. has a 52-week low of $10.45 and a 52-week high of $12.20. The stock has a fifty day simple moving average of $11.06 and a 200-day simple moving average of $10.98. The company has a market capitalization of $75.72 million, a PE ratio of 369.12 and a beta of 0.02.

Swiftmerge Acquisition (NASDAQ:IVCP) last announced its earnings results on Thursday, August 29th. The company reported ($0.05) earnings per share (EPS) for the quarter.

Swiftmerge Acquisition Profile

Swiftmerge Acquisition Corp. does not have significant operations. It focuses on effecting 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.