Lufax (NYSE:LU) Trading Down 3.3% – Should You Sell?

Lufax Holding Ltd (NYSE:LU)’s stock price was down 3.3% during trading on Thursday . The stock traded as low as $3.07 and last traded at $3.09. Approximately 269,398 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 3,714,514 shares. The stock had previously closed at $3.19.

Lufax Trading Down 5.5 %

The firm has a 50-day simple moving average of $2.76 and a two-hundred day simple moving average of $2.69. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -3.92 and a beta of 0.77.

Hedge Funds Weigh In On Lufax

Several institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Lufax by 43.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock valued at $10,829,000 after buying an additional 936,048 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Lufax by 14.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 73,275 shares of the company’s stock valued at $256,000 after purchasing an additional 9,400 shares in the last quarter. Quantbot Technologies LP acquired a new position in Lufax in the 3rd quarter worth about $143,000. BNP Paribas Financial Markets boosted its position in Lufax by 13.1% during the third quarter. BNP Paribas Financial Markets now owns 449,409 shares of the company’s stock worth $1,568,000 after purchasing an additional 51,890 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in Lufax in the third quarter valued at approximately $182,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

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.