Picton Mahoney Asset Management Sells 200,000 Shares of HCM II Acquisition Corp. (NASDAQ:HOND)

Key Points

• Picton Mahoney Asset Management reduced its stake in HCM II Acquisition Corp. by 10.1%, selling 200,000 shares during the first quarter, which left them with approximately 1,780,000 shares worth $18,726,000.
• Several hedge funds have recently established new positions in HCM II Acquisition, including Millennium Management and Context Capital Management, contributing to increasing institutional interest in the stock.
• HCM II Acquisition Corp. shares opened at $11.05 and have fluctuated between a fifty-two week low of $9.90 and a high of $12.24.

Picton Mahoney Asset Management trimmed its position in shares of HCM II Acquisition Corp. (NASDAQ:HOND - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,780,000 shares of the company's stock after selling 200,000 shares during the quarter. Picton Mahoney Asset Management owned approximately 6.19% of HCM II Acquisition worth $18,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Heights Capital Management Inc. bought a new stake in HCM II Acquisition in the fourth quarter valued at $802,000. Radcliffe Capital Management L.P. bought a new stake in HCM II Acquisition in the fourth quarter valued at $134,000. Westchester Capital Management LLC bought a new stake in HCM II Acquisition in the fourth quarter valued at $6,718,000. Berkley W R Corp bought a new stake in HCM II Acquisition in the fourth quarter valued at $2,978,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in HCM II Acquisition in the fourth quarter valued at $752,000.

HCM II Acquisition Price Performance

Shares of HOND stock traded down $0.14 during trading hours on Friday, hitting $10.81. 287,885 shares of the company's stock were exchanged, compared to its average volume of 260,254. HCM II Acquisition Corp. has a 52 week low of $9.90 and a 52 week high of $12.24. The stock's 50-day moving average is $11.35 and its 200-day moving average is $10.75.

HCM II Acquisition Company Profile

HCM II Acquisition Corp. operates as a blank check company. It was formed for the purpose of entering into a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on April 4, 2024 and is headquartered in Stamford, CT.