Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH - Get Free Report) shares traded up 9% on Tuesday . The stock traded as high as $21.00 and last traded at $21.29. 44,977 shares were traded during mid-day trading, a decline of 88% from the average session volume of 363,188 shares. The stock had previously closed at $19.53.
Mercurity Fintech Price Performance
The firm's 50-day moving average is $6.56 and its two-hundred day moving average is $5.54.
Mercurity Fintech declared that its board has authorized a share buyback plan on Tuesday, July 22nd that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to buy up to 7.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey bought a new position in Mercurity Fintech during the second quarter valued at $28,000. Bank of America Corp DE purchased a new stake in shares of Mercurity Fintech during the second quarter valued at $39,000. Harvest Portfolios Group Inc. purchased a new stake in shares of Mercurity Fintech during the first quarter valued at $66,000. Intech Investment Management LLC purchased a new stake in Mercurity Fintech in the second quarter worth about $73,000. Finally, New York State Common Retirement Fund purchased a new stake in Mercurity Fintech in the second quarter worth about $95,000. Institutional investors own 30.82% of the company's stock.
About Mercurity Fintech
(
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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
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