FG Merger Corp. (NASDAQ:FGMC – Get Rating) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 6,700 shares, an increase of 8.1% from the October 15th total of 6,200 shares. Currently, 0.1% of the company's shares are sold short. Based on an average daily trading volume, of 5,500 shares, the short-interest ratio is presently 1.2 days.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of FGMC. Hudson Bay Capital Management LP acquired a new position in FG Merger during the second quarter valued at approximately $5,970,000. CVI Holdings LLC acquired a new position in FG Merger during the second quarter valued at approximately $5,970,000. Linden Advisors LP acquired a new position in FG Merger during the second quarter valued at approximately $5,472,000. Cubist Systematic Strategies LLC acquired a new position in shares of FG Merger in the second quarter valued at approximately $3,526,000. Finally, MMCAP International Inc. SPC acquired a new position in shares of FG Merger in the second quarter valued at approximately $2,985,000. Institutional investors and hedge funds own 50.64% of the company's stock.
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FG Merger Price Performance
Shares of FGMC remained flat at $10.09 on Thursday. 15 shares of the company were exchanged, compared to its average volume of 3,927. The stock's 50 day simple moving average is $10.05 and its 200 day simple moving average is $10.00. FG Merger has a twelve month low of $9.89 and a twelve month high of $10.50.
About FG Merger
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FG Merger Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus its search for a target business in the financial services industry in North America. The company was incorporated in 2020 and is based in Itasca, Illinois.
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