Short Interest in FutureTech II Acquisition Corp. (NASDAQ:FTII) Declines By 9.1%

FutureTech II Acquisition Corp. (NASDAQ:FTII) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 3,000 shares, a decrease of 9.1% from the March 15th total of 3,300 shares. Based on an average daily volume of 23,700 shares, the short-interest ratio is currently 0.1 days. Approximately 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On FutureTech II Acquisition

Several institutional investors have recently added to or reduced their stakes in FTII. Clear Street LLC boosted its position in FutureTech II Acquisition by 31.4% during the fourth quarter. Clear Street LLC now owns 105,744 shares of the company’s stock worth $1,148,000 after purchasing an additional 25,291 shares during the period. Kim LLC boosted its position in shares of FutureTech II Acquisition by 1.2% in the fourth quarter. Kim LLC now owns 183,684 shares of the company’s stock valued at $1,995,000 after acquiring an additional 2,200 shares during the period. Cowen AND Company LLC bought a new position in shares of FutureTech II Acquisition in the fourth quarter valued at approximately $4,096,000. Spartan Fund Management Inc. boosted its position in shares of FutureTech II Acquisition by 2.8% in the fourth quarter. Spartan Fund Management Inc. now owns 213,495 shares of the company’s stock valued at $2,319,000 after acquiring an additional 5,775 shares during the period. Finally, Tuttle Capital Management LLC purchased a new position in shares of FutureTech II Acquisition during the fourth quarter worth approximately $130,000. Institutional investors own 65.83% of the company’s stock.

FutureTech II Acquisition Price Performance

Shares of FTII stock remained flat at $11.14 on Wednesday. 2,200 shares of the stock traded hands, compared to its average volume of 36,886. The company’s 50-day moving average is $11.11 and its 200 day moving average is $10.98. FutureTech II Acquisition has a 52 week low of $10.47 and a 52 week high of $12.12.

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.