FG Merger (NASDAQ:FGMCU) Shares Up 1% – Still a Buy?

FG Merger Corp. (NASDAQ:FGMCU)’s stock price shot up 1% on Monday . The company traded as high as $10.69 and last traded at $10.69. 590 shares traded hands during trading, a decline of 70% from the average session volume of 1,949 shares. The stock had previously closed at $10.58.

FG Merger Trading Up 1.0%

The firm’s fifty day simple moving average is $10.60 and its 200-day simple moving average is $10.47.

Hedge Funds Weigh In On FG Merger

A number of hedge funds have recently bought and sold shares of FGMCU. Highbridge Capital Management LLC bought a new position in FG Merger during the second quarter worth $348,000. Flow Traders U.S. LLC boosted its position in FG Merger by 45.0% during the second quarter. Flow Traders U.S. LLC now owns 30,759 shares of the company’s stock valued at $254,000 after acquiring an additional 9,544 shares during the last quarter. Clear Street LLC grew its holdings in FG Merger by 1,131.9% during the 2nd quarter. Clear Street LLC now owns 195,433 shares of the company’s stock worth $1,612,000 after acquiring an additional 179,569 shares during the period. SkyView Investment Advisors LLC acquired a new stake in FG Merger during the 2nd quarter worth about $391,000. Finally, Clear Street Group Inc. bought a new position in shares of FG Merger in the 3rd quarter worth about $41,000.

About FG Merger

FG Merger Corp. focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. The company intends to focus its search for a target business in the financial services industry in North America. FG Merger Corp. was incorporated in 2020 and is based in Itasca, Illinois.