Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $19.78 and last traded at $20.50, with a volume of 442548 shares traded. The stock had previously closed at $18.19.
Mercurity Fintech Price Performance
The stock has a 50 day simple moving average of $6.21 and a 200 day simple moving average of $5.44.
Mercurity Fintech declared that its Board of Directors has approved a share buyback program on Tuesday, July 22nd that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.
Hedge Funds Weigh In On Mercurity Fintech
Hedge funds have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Mercurity Fintech during the second quarter valued at approximately $28,000. Bank of America Corp DE purchased a new position in shares of Mercurity Fintech during the second quarter valued at approximately $39,000. Harvest Portfolios Group Inc. bought a new stake in shares of Mercurity Fintech during the first quarter valued at approximately $66,000. Intech Investment Management LLC bought a new stake in shares of Mercurity Fintech during the second quarter valued at approximately $73,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Mercurity Fintech during the second quarter valued at approximately $95,000. 30.82% of the stock is owned by hedge funds and other institutional investors.
About Mercurity Fintech
(
Get 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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