Shares of Jupai Holdings Limited (NYSE:JP) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.07 and traded as low as $0.87. Jupai shares last traded at $0.88, with a volume of 53,740 shares traded.
The stock’s 50-day moving average price is $1.06 and its 200 day moving average price is $1.21. The firm has a market cap of $28.32 million, a P/E ratio of -7.00 and a beta of 1.48.
A number of hedge funds and other institutional investors have recently bought and sold shares of JP. Two Sigma Securities LLC bought a new stake in Jupai during the third quarter worth $28,000. Citadel Advisors LLC bought a new position in shares of Jupai in the third quarter valued at about $44,000. Finally, Renaissance Technologies LLC raised its position in shares of Jupai by 8.4% in the second quarter. Renaissance Technologies LLC now owns 322,825 shares of the asset manager’s stock valued at $562,000 after purchasing an additional 25,100 shares during the period. 12.19% of the stock is currently owned by hedge funds and other institutional investors.
Jupai Holdings Ltd. engages in the provision of wealth and asset management services. It focuses on distributing wealth management products and providing advisory services to high-net-worth individuals. The company was founded in July 2010 and is headquartered in Shanghai, China.
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