HCM Acquisition (NASDAQ:HCMA) Shares Down 6.3%

HCM Acquisition Corp (NASDAQ:HCMA) shares dropped 6.3% during trading on Wednesday . The company traded as low as $7.51 and last traded at $7.53. Approximately 33,873 shares traded hands during trading, a decline of 51% from the average daily volume of 68,548 shares. The stock had previously closed at $8.04.

HCM Acquisition Stock Performance

The business has a 50 day moving average of $10.44 and a 200 day moving average of $10.90.

Hedge Funds Weigh In On HCM Acquisition

Several hedge funds and other institutional investors have recently bought and sold shares of HCMA. Wolverine Asset Management LLC bought a new stake in shares of HCM Acquisition in the 3rd quarter valued at approximately $57,000. Cowen AND Company LLC acquired a new position in HCM Acquisition during the 4th quarter worth $559,000. Mizuho Securities USA LLC boosted its position in HCM Acquisition by 277.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 94,840 shares of the company’s stock worth $1,029,000 after acquiring an additional 69,700 shares during the period. Finally, Berkley W R Corp lifted its holdings in shares of HCM Acquisition by 55.3% in the fourth quarter. Berkley W R Corp now owns 681,681 shares of the company’s stock valued at $7,614,000 after buying an additional 242,800 shares during the period. 11.79% of the stock is owned by institutional investors and hedge funds.

HCM Acquisition Company Profile

HCM Acquisition Corp does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. HCM Acquisition Corp was incorporated in 2021 and is based in Stamford, Connecticut.