FG Merger (NASDAQ:FGMCU) Stock Price Up 1.2% – Here’s Why

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

FG Merger Stock Up 1.2%

The stock’s fifty day moving average is $10.55 and its two-hundred day moving average is $10.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Clear Street Group Inc. bought a new stake in shares of FG Merger in the 3rd quarter worth approximately $41,000. Flow Traders U.S. LLC increased its position in FG Merger by 45.0% in the second quarter. Flow Traders U.S. LLC now owns 30,759 shares of the company’s stock worth $254,000 after buying an additional 9,544 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of FG Merger in the second quarter valued at $348,000. SkyView Investment Advisors LLC purchased a new position in shares of FG Merger during the 2nd quarter valued at $391,000. Finally, Clear Street LLC grew its stake in shares of 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.

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.