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

Centiva Capital LP decreased its stake in FG Merger II Corp. (NASDAQ:FGMC) by 64.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,113 shares of the company’s stock after selling 159,887 shares during the period. Centiva Capital LP owned 3.47% of FG Merger II worth $900,000 at the end of the most recent reporting period.

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

FG Merger II Stock Performance

Shares of FG Merger II stock opened at $10.09 on Monday. FG Merger II Corp. has a one year low of $9.56 and a one year high of $10.25. The company has a market cap of $26.23 million and a P/E ratio of 1,009.00. The firm has a fifty day moving average of $10.08 and a two-hundred day moving average of $10.04.

Analyst Ratings Changes

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