FG Merger II (NASDAQ:FGMC) Trading Up 0.2% – Still a Buy?

FG Merger II Corp. (NASDAQ:FGMC)’s stock price traded up 0.2% during trading on Friday . The company traded as high as $10.00 and last traded at $10.00. 27,484 shares changed hands during mid-day trading, an increase of 50% from the average session volume of 18,343 shares. The stock had previously closed at $9.98.

FG Merger II Price Performance

The business’s 50-day simple moving average is $9.96 and its 200 day simple moving average is $9.80.

Institutional Investors Weigh In On FG Merger II

A number of hedge funds have recently modified their holdings of FGMC. AQR Arbitrage LLC bought a new stake in shares of FG Merger II during the 1st quarter valued at $7,587,000. Westchester Capital Management LLC purchased a new stake in FG Merger II in the 1st quarter worth $2,874,000. Wealthspring Capital LLC bought a new position in shares of FG Merger II in the 2nd quarter valued at about $2,044,000. DLD Asset Management LP bought a new stake in shares of FG Merger II in the 2nd quarter valued at approximately $1,482,000. Finally, Virtu Financial LLC bought a new position in FG Merger II during the 1st quarter valued at about $1,366,000.

About FG Merger II

FG Merger II Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded on September 20, 2023 and is headquartered in Itasca, IL.