FG Merger Corp. (NASDAQ:FGMCU) Sees Significant Increase in Short Interest

FG Merger Corp. (NASDAQ:FGMCU) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 31 shares, an increase of ∞ from the April 30th total of 0 shares. Based on an average daily volume of 202 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On FG Merger

Hedge funds have recently modified their holdings of the company. Clear Street Group Inc. boosted its stake in shares of FG Merger by 238.2% in the fourth quarter. Clear Street Group Inc. now owns 16,908 shares of the company’s stock worth $139,000 after acquiring an additional 11,908 shares during the period. Flow Traders U.S. LLC boosted its stake in shares of FG Merger by 102.7% in the third quarter. Flow Traders U.S. LLC now owns 62,345 shares of the company’s stock worth $514,000 after acquiring an additional 31,586 shares during the period. Finally, SkyView Investment Advisors LLC bought a new position in shares of FG Merger in the second quarter worth about $391,000.

FG Merger Price Performance

Shares of FGMCU remained flat at $11.05 during mid-day trading on Wednesday. 993 shares of the company’s stock were exchanged, compared to its average volume of 1,344. FG Merger has a fifty-two week low of $9.94 and a fifty-two week high of $12.83. The business’s 50 day moving average price is $10.86 and its two-hundred day moving average price is $10.63.

About FG Merger

FG Merger Corp. focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. The company intends to focus its search for a target business in the financial services industry in North America. FG Merger Corp. was incorporated in 2020 and is based in Itasca, Illinois.