FutureTech II Acquisition (NASDAQ:FTII) Stock Price Down 6.5% – Should You Sell?

FutureTech II Acquisition Corp. (NASDAQ:FTII)’s share price fell 6.5% during mid-day trading on Friday . The company traded as low as $11.02 and last traded at $11.02. 1,442 shares traded hands during mid-day 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 Trading Down 6.5 %

The company’s fifty day simple moving average is $11.50 and its 200 day simple moving average is $11.28.

Institutional Trading of FutureTech II Acquisition

A number of institutional investors have recently modified their holdings of FTII. K2 Principal Fund L.P. raised its holdings in FutureTech II Acquisition by 110.6% during the 4th quarter. K2 Principal Fund L.P. now owns 105,296 shares of the company’s stock valued at $1,289,000 after acquiring an additional 55,296 shares during the period. Berkley W R Corp grew its position in shares of 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 in the last quarter. Finally, Virtu Financial LLC raised its stake in shares of FutureTech II Acquisition by 41.9% during the 3rd 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 during the period. 65.83% of the stock is currently owned by hedge funds and other 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.