Lufax (NYSE:LU) Trading Up 5.5% – What’s Next?

Lufax Holding Ltd (NYSE:LU) shares rose 5.5% during trading on Tuesday . The company traded as high as $2.57 and last traded at $2.61. Approximately 2,708,859 shares traded hands during trading, a decline of 23% from the average daily volume of 3,515,426 shares. The stock had previously closed at $2.47.

Lufax Stock Down 2.7 %

The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -3.08 and a beta of 0.71. The business has a fifty day simple moving average of $2.89 and a two-hundred day simple moving average of $2.75.

Institutional Investors Weigh In On Lufax

A number of hedge funds have recently made changes to their positions in the company. Tiger Pacific Capital LP acquired a new position in shares of Lufax in the 4th quarter worth approximately $9,409,000. Marshall Wace LLP acquired a new position in Lufax in the fourth quarter worth $5,491,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Lufax during the fourth quarter worth $5,436,000. Norges Bank acquired a new stake in shares of Lufax in the fourth quarter valued at $4,221,000. Finally, Nuveen Asset Management LLC lifted its position in Lufax by 747.0% during the 4th quarter. Nuveen Asset Management LLC now owns 1,293,334 shares of the company’s stock worth $3,091,000 after buying an additional 1,140,634 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

Lufax Company Profile

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.