Lufax (NYSE:LU) Shares Down 5.9% – Here’s What Happened

Shares of Lufax Holding Ltd (NYSE:LU) traded down 5.9% on Wednesday . The stock traded as low as $2.40 and last traded at $2.41. 1,659,824 shares were traded during trading, a decline of 53% from the average session volume of 3,529,491 shares. The stock had previously closed at $2.56.

Lufax Trading Down 5.1 %

The stock has a market capitalization of $2.11 billion, a PE ratio of -3.16 and a beta of 0.71. The firm’s fifty day moving average price is $2.89 and its two-hundred day moving average price is $2.75.

Institutional Trading of Lufax

A number of hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Lufax by 102.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,600 shares of the company’s stock worth $40,000 after buying an additional 8,382 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Lufax by 230.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 17,282 shares of the company’s stock worth $41,000 after acquiring an additional 12,048 shares during the last quarter. Corient Private Wealth LLC raised its position in Lufax by 43.6% in the fourth quarter. Corient Private Wealth LLC now owns 21,218 shares of the company’s stock valued at $51,000 after purchasing an additional 6,445 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Lufax by 24.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 32,677 shares of the company’s stock valued at $79,000 after purchasing an additional 6,422 shares during the last quarter. Finally, Amundi grew its holdings in shares of Lufax by 32.7% during the 4th quarter. Amundi now owns 54,987 shares of the company’s stock worth $133,000 after purchasing an additional 13,547 shares during the period. Institutional investors and hedge funds own 69.14% of the company’s stock.

About Lufax

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.