Archimedes Tech SPAC Partners II (NASDAQ:ATIIU) Trading Down 0.6% – Here’s What Happened

Archimedes Tech SPAC Partners II Co. (NASDAQ:ATIIU) dropped 0.6% during trading on Wednesday . The stock traded as low as $10.93 and last traded at $10.93. Approximately 1,300 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 7,275 shares. The stock had previously closed at $11.00.

Archimedes Tech SPAC Partners II Stock Performance

Hedge Funds Weigh In On Archimedes Tech SPAC Partners II

An institutional investor recently raised its position in Archimedes Tech SPAC Partners II stock. Clear Street Group Inc. grew its holdings in Archimedes Tech SPAC Partners II Co. (NASDAQ:ATIIU) by 97.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,658 shares of the company’s stock after buying an additional 36,892 shares during the period. Clear Street Group Inc.’s holdings in Archimedes Tech SPAC Partners II were worth $784,000 at the end of the most recent quarter.

Archimedes Tech SPAC Partners II Company Profile

Archimedes Tech SPAC Partners II (NASDAQ: ATIIU) is a special purpose acquisition company (SPAC) that trades publicly on the Nasdaq. As a blank‑check vehicle, its principal purpose is to raise capital through a public offering and to use the proceeds to complete a business combination, such as a merger, share exchange, asset acquisition or other similar transaction that brings a private operating company public.

Consistent with its name, the SPAC is oriented toward identifying opportunities in technology and technology‑enabled sectors, offering an alternative route to the public markets for private companies in those areas.