Invesco Ltd. purchased a new stake in shares of Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 50,530 shares of the company's stock, valued at approximately $271,000. Invesco Ltd. owned 0.08% of Mercurity Fintech at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd lifted its stake in Mercurity Fintech by 146.4% in the first quarter. Y Intercept Hong Kong Ltd now owns 30,051 shares of the company's stock worth $161,000 after acquiring an additional 17,856 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in Mercurity Fintech in the fourth quarter valued at about $136,000. Millennium Management LLC purchased a new position in Mercurity Fintech in the fourth quarter valued at about $706,000. Cubist Systematic Strategies LLC purchased a new position in Mercurity Fintech in the fourth quarter valued at about $108,000. Finally, Balyasny Asset Management L.P. purchased a new position in Mercurity Fintech in the fourth quarter valued at about $174,000. 30.82% of the stock is owned by hedge funds and other institutional investors.
Mercurity Fintech Trading Up 1.6%
MFH opened at $5.59 on Monday. The business's 50-day moving average is $4.41 and its two-hundred day moving average is $4.94. Mercurity Fintech Holding Inc. Sponsored ADR has a 1 year low of $1.03 and a 1 year high of $8.86.
Mercurity Fintech announced that its board has approved a share buyback plan on Tuesday, July 22nd that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the company to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.
Mercurity Fintech Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding MFH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH - Free Report).
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