FutureTech II Acquisition (NASDAQ:FTII) Shares Down 6.5% - Should You Sell?

FutureTech II Acquisition Corp. (NASDAQ:FTII - Get Free Report)'s stock price was down 6.5% during trading on Friday . The stock traded as low as $11.02 and last traded at $11.02. Approximately 1,442 shares were traded during trading, a decline of 89% from the average daily volume of 13,623 shares. The stock had previously closed at $11.79.

FutureTech II Acquisition Stock Performance

The company's 50-day simple moving average is $11.48 and its 200-day simple moving average is $11.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC increased its stake 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 acquiring an additional 10,438 shares during the period. Berkley W R Corp increased its stake 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 acquiring an additional 50,000 shares during the period. Finally, K2 Principal Fund L.P. grew its position in 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 buying an additional 55,296 shares during the period. 65.83% of the stock is currently owned by institutional investors and hedge funds.

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.