HCM II Acquisition Target of Unusually High Options Trading (NASDAQ:HOND)

Key Points

• HCM II Acquisition Corp. experienced a notable surge in options trading, with 3,189 call options purchased, reflecting a 35% increase over the average volume.
• The company's stock price dropped 1.4% to $17.37, amidst a trading volume that significantly surpassed its typical levels.
• Several institutional investors have recently increased their stakes in HCM II Acquisition, indicating strong interest from the investment community.

HCM II Acquisition Corp. (NASDAQ:HOND - ) was the target of some unusual options trading activity on Thursday. Stock investors acquired 3,189 call options on the stock. This is an increase of approximately 35% compared to the average volume of 2,365 call options.

HCM II Acquisition Stock Down 1.4%

Shares of NASDAQ:HOND traded down $0.25 during midday trading on Thursday, hitting $17.37. The stock had a trading volume of 1,679,952 shares, compared to its average volume of 432,061. The stock has a 50 day moving average price of $11.76 and a two-hundred day moving average price of $11.24. HCM II Acquisition has a 1 year low of $9.90 and a 1 year high of $18.07.

Institutional Trading of HCM II Acquisition

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Shay Capital LLC purchased a new stake in shares of HCM II Acquisition in the second quarter valued at about $6,086,000. Scoggin Management LP purchased a new stake in shares of HCM II Acquisition in the second quarter valued at about $2,220,000. Massar Capital Management LP acquired a new stake in shares of HCM II Acquisition in the second quarter valued at about $1,110,000. HRT Financial LP lifted its stake in shares of HCM II Acquisition by 131.6% in the second quarter. HRT Financial LP now owns 230,069 shares of the company's stock valued at $2,553,000 after purchasing an additional 130,749 shares during the period. Finally, Berkley W R Corp lifted its stake in shares of HCM II Acquisition by 33.9% in the second quarter. Berkley W R Corp now owns 398,021 shares of the company's stock valued at $4,418,000 after purchasing an additional 100,781 shares during the period.

About HCM II Acquisition

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.

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