Ignyte Acquisition (NASDAQ:IGNY) Trading 18.6% Higher

Shares of Ignyte Acquisition Corp. (NASDAQ:IGNY – Get Rating) traded up 18.6% during trading on Wednesday . The company traded as high as $0.95 and last traded at $0.95. 152 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 26,174 shares. The stock had previously closed at $0.80.

Ignyte Acquisition Stock Down 20.9 %

The stock’s fifty day simple moving average is $1.96 and its 200 day simple moving average is $2.96.

Institutional Trading of Ignyte Acquisition

Hedge funds have recently bought and sold shares of the business. Saba Capital Management L.P. grew its stake in shares of Ignyte Acquisition by 52.3% in the 1st quarter. Saba Capital Management L.P. now owns 354,843 shares of the company’s stock valued at $3,492,000 after buying an additional 121,871 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Ignyte Acquisition in the 2nd quarter valued at approximately $2,342,000. Periscope Capital Inc. grew its stake in shares of Ignyte Acquisition by 8.0% in the 3rd quarter. Periscope Capital Inc. now owns 165,031 shares of the company’s stock valued at $1,648,000 after buying an additional 12,264 shares during the period. Radcliffe Capital Management L.P. grew its stake in shares of Ignyte Acquisition by 3.8% in the 1st quarter. Radcliffe Capital Management L.P. now owns 103,800 shares of the company’s stock valued at $1,021,000 after buying an additional 3,800 shares during the period. Finally, Exos TFP Holdings LLC purchased a new stake in shares of Ignyte Acquisition in the 3rd quarter valued at approximately $662,000. Institutional investors and hedge funds own 61.08% of the company’s stock.

About Ignyte Acquisition

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Ignyte Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses. The company intends to focus on target businesses in the life sciences, biotechnology, and healthcare sectors.