Centiva Capital LP Lowers Stock Position in FG Merger II Corp. $FGMC

Centiva Capital LP decreased its holdings in shares of FG Merger II Corp. (NASDAQ:FGMC) by 64.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 90,113 shares of the company’s stock after selling 159,887 shares during the period. Centiva Capital LP’s holdings in FG Merger II were worth $900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Flow Traders U.S. LLC acquired a new stake in shares of FG Merger II in the 2nd quarter valued at approximately $115,000. Crossingbridge Advisors LLC acquired a new position in FG Merger II during the second quarter worth $242,000. Wolverine Asset Management LLC raised its position in FG Merger II by 112.4% in the third quarter. Wolverine Asset Management LLC now owns 59,474 shares of the company’s stock worth $594,000 after acquiring an additional 31,478 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in FG Merger II in the second quarter worth $789,000. Finally, Highbridge Capital Management LLC acquired a new stake in FG Merger II in the second quarter valued at $954,000.

FG Merger II Stock Performance

Shares of NASDAQ FGMC opened at $10.09 on Monday. The company’s 50-day moving average price is $10.08 and its 200 day moving average price is $10.04. FG Merger II Corp. has a 52 week low of $9.56 and a 52 week high of $10.25. The stock has a market cap of $26.23 million and a price-to-earnings ratio of 1,009.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of FG Merger II in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, FG Merger II presently has an average rating of “Sell”.

FG Merger II Profile

FG Merger II is a special purpose acquisition company (SPAC) incorporated in Delaware in 2022. The company was formed for the purpose of effecting a merger, stock exchange, asset acquisition or similar business combination. It completed its initial public offering on the Nasdaq under the symbol FGMC and, to date, has not identified a definitive target or commenced substantive operations beyond the SPAC formation.

The company intends to pursue opportunities in financial technology, financial services and adjacent technology-driven sectors.