Lufax (NYSE:LU) Stock Price Up 4% – Here’s Why

Lufax Holding Ltd (NYSE:LU) shares rose 4% on Thursday . The stock traded as high as $3.28 and last traded at $3.24. Approximately 481,386 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 3,374,324 shares. The stock had previously closed at $3.11.

Lufax Stock Up 3.4 %

The stock’s 50 day moving average is $2.61 and its 200-day moving average is $2.64. The company has a market cap of $2.79 billion, a PE ratio of -4.18 and a beta of 0.77.

Institutional Investors Weigh In On Lufax

Several large investors have recently added to or reduced their stakes in LU. EWA LLC bought a new position in shares of Lufax during the 3rd quarter valued at approximately $45,000. Soltis Investment Advisors LLC bought a new position in Lufax during the third quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Lufax by 102.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,600 shares of the company’s stock valued at $40,000 after acquiring an additional 8,382 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Lufax by 230.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 17,282 shares of the company’s stock worth $41,000 after acquiring an additional 12,048 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of Lufax by 43.6% during the 4th quarter. Corient Private Wealth LLC now owns 21,218 shares of the company’s stock worth $51,000 after purchasing an additional 6,445 shares during the period. 69.14% of the stock is owned by institutional investors.

Lufax Company Profile

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.