AGM Group (NASDAQ:AGMH) Trading 7.8% Higher – Here’s Why

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

AGM Group Stock Up 7.8%

The firm has a fifty day simple moving average of $0.99 and a 200 day simple moving average of $1.78.

Hedge Funds Weigh In On AGM Group

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE bought a new position in AGM Group Holdings Inc. (NASDAQ:AGMH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned approximately 3.02% of AGM Group at the end of the most recent quarter.

About AGM Group

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.