Invesco Ltd. bought a new stake in Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 50,530 shares of the company's stock, valued at approximately $271,000. Invesco Ltd. owned approximately 0.08% of Mercurity Fintech as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of MFH. Cubist Systematic Strategies LLC acquired a new stake in shares of Mercurity Fintech during the 4th quarter valued at $108,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Mercurity Fintech by 146.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 30,051 shares of the company's stock valued at $161,000 after acquiring an additional 17,856 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Mercurity Fintech during the 4th quarter valued at $136,000. Balyasny Asset Management L.P. acquired a new stake in shares of Mercurity Fintech during the 4th quarter valued at $174,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Mercurity Fintech during the 4th quarter valued at $420,000. Institutional investors and hedge funds own 30.82% of the company's stock.
Mercurity Fintech Trading Up 6.4%
Shares of NASDAQ MFH traded up $0.47 during mid-day trading on Friday, hitting $7.86. 84,054 shares of the stock traded hands, compared to its average volume of 178,073. Mercurity Fintech Holding Inc. Sponsored ADR has a twelve month low of $1.03 and a twelve month high of $8.86. The firm has a 50 day simple moving average of $4.72 and a two-hundred day simple moving average of $4.98.
Mercurity Fintech declared that its Board of Directors has approved a stock buyback program on Tuesday, July 22nd that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.
About Mercurity Fintech
(
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.
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