FutureTech II Acquisition (NASDAQ:FTII) Shares Up 0.4% - Here's Why

FutureTech II Acquisition Corp. (NASDAQ:FTII - Get Free Report)'s stock price shot up 0.4% during trading on Wednesday . The company traded as high as $11.44 and last traded at $11.40. 3,515 shares traded hands during trading, a decline of 39% from the average session volume of 5,777 shares. The stock had previously closed at $11.35.

FutureTech II Acquisition Stock Performance

The business's fifty day moving average price is $11.47 and its 200 day moving average price is $11.23.

Hedge Funds Weigh In On FutureTech II Acquisition

A number of hedge funds have recently modified their holdings of the business. Virtu Financial LLC lifted its holdings in shares of FutureTech II Acquisition by 41.9% during the third quarter. Virtu Financial LLC now owns 35,356 shares of the company's stock worth $396,000 after purchasing an additional 10,438 shares during the period. Berkley W R Corp lifted its holdings in shares of FutureTech II Acquisition by 100.5% during the third quarter. Berkley W R Corp now owns 99,739 shares of the company's stock worth $1,098,000 after purchasing an additional 50,000 shares during the period. Finally, K2 Principal Fund L.P. lifted its holdings in shares of FutureTech II Acquisition by 110.6% during the fourth quarter. K2 Principal Fund L.P. now owns 105,296 shares of the company's stock worth $1,289,000 after purchasing an additional 55,296 shares during the period. Institutional investors and hedge funds own 65.83% of the company's stock.

FutureTech II Acquisition Company Profile

FutureTech II Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire and manage a business in the technology industry.