Mercurity Fintech (NASDAQ:MFH) Stock Price Down 11.4% – Here’s What Happened

Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH)’s share price traded down 11.4% during mid-day trading on Thursday . The stock traded as low as $3.10 and last traded at $3.11. 375,677 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 509,724 shares. The stock had previously closed at $3.51.

Mercurity Fintech Price Performance

The stock’s 50-day moving average is $3.35 and its 200 day moving average is $4.75.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. acquired a new position in shares of Mercurity Fintech during the 3rd quarter worth $467,000. Creative Planning purchased a new position in Mercurity Fintech during the 3rd quarter valued at about $818,000. JPMorgan Chase & Co. increased its holdings in Mercurity Fintech by 280.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,919 shares of the company’s stock valued at $367,000 after acquiring an additional 10,999 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Mercurity Fintech by 200.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 132,406 shares of the company’s stock valued at $510,000 after purchasing an additional 88,265 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Mercurity Fintech by 1,103.8% in the second quarter. Geode Capital Management LLC now owns 429,832 shares of the company’s stock valued at $1,655,000 after purchasing an additional 394,126 shares in the last quarter. Institutional investors and hedge funds own 30.82% of the company’s stock.

About Mercurity Fintech

Mercurity Fintech Holding Inc operates as a fintech company powered by blockchain. The company provides digital asset trading infrastructure solutions based on internet and blockchain technologies for cryptocurrency traders; and asset digitalization platform, which offers blockchain-based digitalization solutions for traditional assets, such as fiat currencies, bonds, and precious metals. It also offers cryptocurrency mining services that provides computing power to the mining pool; and digital consultation services, such as digital payment solutions, asset management, and online and traditional brokerage services.