Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH - Get Free Report) shares were up 8.8% during mid-day trading on Monday . The stock traded as high as $10.57 and last traded at $10.88. Approximately 105,712 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 359,838 shares. The stock had previously closed at $10.00.
Mercurity Fintech Price Performance
The company's fifty day moving average is $5.24 and its 200 day moving average is $5.12.
Mercurity Fintech announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 22nd that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.
Institutional Investors 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 acquired a new position in shares of Mercurity Fintech during the second quarter valued at approximately $28,000. Bank of America Corp DE acquired a new stake in shares of Mercurity Fintech in the second quarter worth $39,000. Harvest Portfolios Group Inc. purchased a new position in Mercurity Fintech during the 1st quarter valued at about $66,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Mercurity Fintech by 146.4% during 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 in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Mercurity Fintech during the 2nd quarter valued at about $73,000. Institutional investors own 30.82% of the company's stock.
Mercurity Fintech Company Profile
(
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.
Further Reading
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