Forum Merger III Target of Unusually High Options Trading (NASDAQ:FIII)


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Forum Merger III Co. (NASDAQ:FIII) was the target of some unusual options trading activity on Tuesday. Traders bought 4,388 call options on the stock. This is an increase of approximately 160% compared to the average daily volume of 1,687 call options.

Several institutional investors have recently bought and sold shares of FIII. Phoenix Holdings Ltd. acquired a new position in Forum Merger III in the 4th quarter valued at about $12,316,000. Polar Asset Management Partners Inc. purchased a new stake in Forum Merger III in the 3rd quarter valued at approximately $10,935,000. Magnetar Financial LLC purchased a new stake in Forum Merger III in the 4th quarter valued at approximately $11,073,000. P Schoenfeld Asset Management LP purchased a new stake in Forum Merger III in the 3rd quarter valued at approximately $5,964,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Forum Merger III in the 3rd quarter valued at approximately $1,772,000. 17.00% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ FIII traded down $0.60 during midday trading on Tuesday, hitting $10.82. The company’s stock had a trading volume of 55,612 shares, compared to its average volume of 1,314,577. The company’s fifty day moving average price is $12.83. Forum Merger III has a 1 year low of $9.67 and a 1 year high of $15.30.

Forum Merger III Company Profile

Forum Merger III Corporation intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded in 2019 and is based in Delray Beach, Florida.

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