FutureTech II Acquisition (NASDAQ:FTII) Shares Down 6.5% – Time to Sell?

FutureTech II Acquisition Corp. (NASDAQ:FTII) shares traded down 6.5% during mid-day trading on Friday . The stock traded as low as $11.02 and last traded at $11.02. 1,442 shares traded hands during trading, a decline of 89% from the average session volume of 13,623 shares. The stock had previously closed at $11.79.

FutureTech II Acquisition Stock Performance

The company has a 50 day moving average price of $11.48 and a 200-day moving average price of $11.28.

Institutional Investors Weigh In On FutureTech II Acquisition

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC boosted its position 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 valued at $396,000 after purchasing an additional 10,438 shares in the last quarter. Berkley W R Corp boosted its position 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 valued at $1,098,000 after purchasing an additional 50,000 shares in the last quarter. Finally, K2 Principal Fund L.P. boosted its position 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 valued at $1,289,000 after purchasing an additional 55,296 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors.

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.