FG Merger (NASDAQ:FGMCU) Stock Price Up 1.2% – Should You Buy?

FG Merger Corp. (NASDAQ:FGMCU) shares rose 1.2% on Friday . The company traded as high as $10.65 and last traded at $10.61. Approximately 5,800 shares traded hands during mid-day trading, an increase of 113% from the average daily volume of 2,725 shares. The stock had previously closed at $10.48.

FG Merger Stock Performance

The business has a 50 day simple moving average of $10.55 and a 200-day simple moving average of $10.42.

Institutional Inflows and Outflows

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

FG Merger Company Profile

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.