PACS Group (NYSE:PACS) Trading Up 5.7% - Here's What Happened

Key Points

• PACS Group's stock price increased by 5.7% on Tuesday, reaching a high of $12.06 after closing at $11.41.
• Trading volume was significantly low, with only 14,395 shares changing hands, a 97% decrease from the average daily volume of 541,709 shares.
• Several hedge funds, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and MetLife Investment Management LLC, have recently increased their stakes in PACS Group by over 6%.

PACS Group, Inc. (NYSE:PACS - )'s stock price was up 5.7% on Tuesday . The stock traded as high as $11.86 and last traded at $12.06. Approximately 14,395 shares changed hands during trading, a decline of 97% from the average daily volume of 541,709 shares. The stock had previously closed at $11.41.

PACS Group Stock Up 1.8%

The business's fifty day moving average is $11.97 and its 200-day moving average is $11.46.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PACS Group by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,280 shares of the company's stock valued at $262,000 after acquiring an additional 1,443 shares in the last quarter. MetLife Investment Management LLC grew its holdings in PACS Group by 6.6% in the fourth quarter. MetLife Investment Management LLC now owns 24,539 shares of the company's stock worth $322,000 after purchasing an additional 1,527 shares during the period. Rhumbline Advisers increased its stake in PACS Group by 3.6% in the first quarter. Rhumbline Advisers now owns 52,380 shares of the company's stock valued at $589,000 after purchasing an additional 1,840 shares in the last quarter. Peterson Wealth Services raised its holdings in shares of PACS Group by 4.2% during the second quarter. Peterson Wealth Services now owns 53,327 shares of the company's stock valued at $689,000 after purchasing an additional 2,167 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of PACS Group by 6.8% during the 4th quarter. Wells Fargo & Company MN now owns 34,317 shares of the company's stock worth $450,000 after purchasing an additional 2,196 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.