PACS Group (NYSE:PACS) Sees Large Volume Increase - Here's What Happened

Key Points

• PACS Group experienced strong trading volume with approximately 513,479 shares traded, though this represents a 17% decline from the previous session's volume.
• The company's stock price rose by 6.8%, closing at $10.33, while the 50-day moving average stands at $11.47.
• Several institutional investors significantly increased their stakes in PACS, with Two Sigma Investments LP growing its position by 868.6% in the last quarter.

PACS Group, Inc. (NYSE:PACS - Get Free Report) saw strong trading volume on Monday . 513,479 shares traded hands during trading, a decline of 17% from the previous session's volume of 615,091 shares.The stock last traded at $10.33 and had previously closed at $9.75.

PACS Group Trading Up 0.1%

The stock's fifty day moving average is $11.32 and its 200-day moving average is $11.08.

Institutional Trading of PACS Group

A number of hedge funds have recently added to or reduced their stakes in the company. State of Wyoming boosted its holdings in PACS Group by 33.0% during the second quarter. State of Wyoming now owns 16,548 shares of the company's stock worth $214,000 after buying an additional 4,103 shares in the last quarter. Tower Research Capital LLC TRC raised its position in PACS Group by 289.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,166 shares of the company's stock worth $80,000 after acquiring an additional 4,581 shares during the period. Corient Private Wealth LLC acquired a new position in PACS Group during the second quarter worth $533,000. Brevan Howard Capital Management LP acquired a new position in PACS Group during the second quarter worth $177,000. Finally, Ameriprise Financial Inc. raised its position in PACS Group by 120.4% during the second quarter. Ameriprise Financial Inc. now owns 1,129,612 shares of the company's stock worth $14,595,000 after acquiring an additional 617,124 shares during the period.

About PACS Group

PACS Group, Inc, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. The company also provides senior care and independent facilities. It engages in the acquisition, ownership, and leasing of health care-related properties. The company was founded in 2013 and is based in Farmington, Utah.