AGM Group (NASDAQ:AGMH) Shares Up 7.8% – Here’s What Happened

AGM Group Holdings Inc. (NASDAQ:AGMH) shares were up 7.8% during mid-day trading on Thursday . The stock traded as high as $1.10 and last traded at $1.10. Approximately 35,911 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 94,727 shares. The stock had previously closed at $1.02.

AGM Group Stock Up 0.9%

The firm’s fifty day moving average is $0.99 and its 200-day moving average is $1.78.

Institutional Trading of AGM Group

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE acquired a new position in AGM Group Holdings Inc. (NASDAQ:AGMH) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned 3.02% of AGM Group as of its most recent SEC filing.

AGM Group Company Profile

AGM Group Holdings, Inc (NASDAQ:AGMH) is a blank check company incorporated in Delaware in April 2021. It was formed as a special purpose acquisition company (SPAC) with no commercial operations at inception and no revenues other than interest earned on its trust account balances. The company’s primary objective is to identify and complete a business combination with one or more operating businesses.

In connection with its initial public offering, AGM Group issued units comprising one share of common stock and a fraction of one redeemable warrant, with gross proceeds deposited into a trust account.