Glazer Capital LLC recently announced the acquisition of new stake in Forum Merger II Corporation (NASDAQ:FMCI). The institutional investor has increased its shareholding in the Financial company by 7.83% to 2.05 million shares with purchase of 0.15 million shares. This fresh investment now brings its stake to 9.94% valued currently at $33.77 million. In addition, W.R. Berkley Corp. (Investment Po. raised its holdings by 0.75 million to 1.73 million shares.
With over 2.82 million Forum Merger II Corporation (FMCI) shares trading Friday and a closing price of $15.30 on the day, the dollar volume was approximately $43.07 million. The shares have shown a positive weekly performance of 2.07% and its price on 07/24/20 gained nearly 16.62%. Currently, there are 20.65M common shares owned by the public and among those 1.89M shares have been available to trade.
The top 3 mutual fund holders in Forum Merger II Corporation are Westchester Capital Merger Fund, GAMCO International SICAV – Merge, and Special Opportunities Fund, Inc. Westchester Capital Merger Fund owns 0.61 million shares of the company’s stock, all valued at over $10.09 million. The company bought an additional 0.28 million shares recently to bring their total holdings to about 2.97% of the shares outstanding. GAMCO International SICAV – Merge bought 39700.0 shares to see its total holdings expand to 0.27 million shares valued at over $4.37 million and representing 1.29% of the shares outstanding. Special Opportunities Fund, Inc. bought 50000.0 shares to bring its total holdings to over 0.17 million shares at a value of $2.87 million. Special Opportunities Fund, Inc. now owns shares totaling to 0.85% of the shares outstanding.
Shares of Forum Merger II Corporation (NASDAQ: FMCI) opened at $13.05, down -$0.07 from a prior closing price of $13.12. However, the script later closed the day at $15.30, up 16.62%. The company’s stock has a 5-day price change of 2.07% and 46.83% over the past three months. FMCI shares are trading 49.85% year to date (YTD), with the 12-month market performance up to 54.86% higher. It has a 12-month low price of $9.76 and touched a high of $20.00 over the same period. Currently, 2.82 million shares have been traded, compared to an average intraday trading volume of 2.55 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.40%, 7.38%, and 36.13% respectively.
Institutional ownership of Forum Merger II Corporation (NASDAQ: FMCI) shares accounts for 97.77% of the company’s 20.65M shares outstanding. Mutual fund holders own 7.42%, while other institutional holders and individual stakeholders account for 79.81% and — respectively.
It has a market capitalization of $315.95M. The earnings-per-share (ttm) stands at -$0.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.99% over the week and 8.39% over the month.