FinVolution Group (NYSE:FINV) Sees Large Volume Increase – Here’s Why

Shares of FinVolution Group (NYSE:FINV) saw an uptick in trading volume on Friday . 358,934 shares traded hands during trading, a decline of 49% from the previous session’s volume of 701,978 shares.The stock last traded at $6.97 and had previously closed at $6.63.

FinVolution Group Stock Performance

The business’s fifty day moving average is $6.18 and its two-hundred day moving average is $5.47. The company has a market cap of $1.85 billion, a P/E ratio of 6.02 and a beta of 0.45.

Institutional Investors Weigh In On FinVolution Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of FinVolution Group by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 74,723 shares of the company’s stock valued at $462,000 after purchasing an additional 3,164 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of FinVolution Group in the 3rd quarter worth approximately $1,224,000. XTX Topco Ltd purchased a new position in shares of FinVolution Group in the 3rd quarter worth approximately $346,000. Jane Street Group LLC grew its position in shares of FinVolution Group by 229.4% in the 3rd quarter. Jane Street Group LLC now owns 185,420 shares of the company’s stock worth $1,146,000 after buying an additional 129,138 shares during the last quarter. Finally, State Street Corp grew its position in shares of FinVolution Group by 8.3% in the 3rd quarter. State Street Corp now owns 3,496,614 shares of the company’s stock worth $21,609,000 after buying an additional 268,843 shares during the last quarter. Institutional investors own 31.15% of the company’s stock.

FinVolution Group Company Profile

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.