HCM Acquisition (NASDAQ:HCMA) Shares Down 6.3%

HCM Acquisition Corp (NASDAQ:HCMA) traded down 6.3% during mid-day trading on Wednesday . The company traded as low as $7.51 and last traded at $7.53. 33,873 shares were traded during mid-day trading, a decline of 51% from the average session volume of 68,548 shares. The stock had previously closed at $8.04.

HCM Acquisition Stock Down 6.3 %

The stock’s fifty day simple moving average is $10.57 and its 200-day simple moving average is $10.95.

Institutional Trading of HCM Acquisition

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC acquired a new stake in shares of HCM Acquisition in the third quarter valued at about $57,000. Cowen AND Company LLC acquired a new stake in shares of HCM Acquisition in the fourth quarter valued at about $559,000. Mizuho Securities USA LLC grew its position in shares of HCM Acquisition by 277.2% in the third quarter. Mizuho Securities USA LLC now owns 94,840 shares of the company’s stock valued at $1,029,000 after purchasing an additional 69,700 shares during the period. Finally, Berkley W R Corp grew its position in shares of HCM Acquisition by 55.3% in the fourth quarter. Berkley W R Corp now owns 681,681 shares of the company’s stock valued at $7,614,000 after purchasing an additional 242,800 shares during the period. Institutional investors and hedge funds own 11.79% of the company’s stock.

About HCM Acquisition

HCM Acquisition Corp does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. HCM Acquisition Corp was incorporated in 2021 and is based in Stamford, Connecticut.