Mercurity Fintech (NASDAQ:MFH) Stock Price Up 15.7% - Still a Buy?

Key Points

• 15.7% intraday gain — Mercurity Fintech shares rose to a high of $5.79 and last traded at $5.57 (prior close $4.8150) on about 164,228 shares, roughly 55% below its average daily volume.
• The stock's 50-day moving average is $4.76 versus a 200-day moving average of $7.85, indicating the shares remain well below their longer-term trend.
• Institutional buying has increased recently (new positions from AllianceBernstein and Mirae, and stake increases from JPMorgan and Bank of America), with institutions now owning about 30.82% of the company.

Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH - )'s stock price rose 15.7% during trading on Monday . The stock traded as high as $5.79 and last traded at $5.57. Approximately 164,228 shares traded hands during trading, a decline of 55% from the average daily volume of 368,355 shares. The stock had previously closed at $4.8150.

Mercurity Fintech Trading Up 15.7%

The firm's fifty day moving average is $4.76 and its 200 day moving average is $7.85.

Institutional Investors Weigh In On Mercurity Fintech

Hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. bought a new position in shares of Mercurity Fintech during the 3rd quarter worth approximately $467,000. JPMorgan Chase & Co. raised its stake in shares of Mercurity Fintech by 280.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,919 shares of the company's stock worth $367,000 after acquiring an additional 10,999 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Mercurity Fintech by 28.3% during the 3rd quarter. Bank of America Corp DE now owns 12,829 shares of the company's stock worth $315,000 after acquiring an additional 2,827 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Mercurity Fintech during the 1st quarter worth approximately $237,000. Finally, Sei Investments Co. bought a new position in shares of Mercurity Fintech during the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 30.82% of the company's stock.

About Mercurity Fintech

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. It also offers cryptocurrency mining services that provides computing power to the mining pool; and digital consultation services, such as digital payment solutions, asset management, and online and traditional brokerage services.

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