FutureTech II Acquisition (NASDAQ:FTII) Shares Up 5.4% – What’s Next?

FutureTech II Acquisition Corp. (NASDAQ:FTII) traded up 5.4% on Monday . The company traded as high as $11.98 and last traded at $11.95. 1,200 shares were traded during mid-day trading, an increase of 41% from the average session volume of 850 shares. The stock had previously closed at $11.34.

FutureTech II Acquisition Price Performance

The company’s 50-day simple moving average is $11.23 and its 200-day simple moving average is $11.13.

Institutional Investors Weigh In On FutureTech II Acquisition

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC boosted its position in FutureTech II Acquisition by 41.9% in the 3rd quarter. Virtu Financial LLC now owns 35,356 shares of the company’s stock valued at $396,000 after buying an additional 10,438 shares during the last quarter. K2 Principal Fund L.P. acquired a new position in shares of FutureTech II Acquisition in the second quarter worth about $551,000. Berkley W R Corp boosted its holdings in FutureTech II Acquisition by 100.5% in the third quarter. Berkley W R Corp now owns 99,739 shares of the company’s stock valued at $1,098,000 after purchasing an additional 50,000 shares during the last quarter. Cowen AND Company LLC grew its stake in FutureTech II Acquisition by 700.6% during the 2nd quarter. Cowen AND Company LLC now owns 120,489 shares of the company’s stock valued at $1,330,000 after purchasing an additional 105,440 shares in the last quarter. Finally, Clear Street LLC purchased a new stake in FutureTech II Acquisition during the 2nd quarter worth approximately $2,610,000. Hedge funds and other institutional investors own 65.83% of the company’s stock.

About FutureTech II Acquisition

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.