Lufax (NYSE:LU) Stock Price Down 3.3% – What’s Next?

Lufax Holding Ltd (NYSE:LU) shares dropped 3.3% on Thursday . The stock traded as low as $3.07 and last traded at $3.09. Approximately 269,398 shares changed hands during trading, a decline of 93% from the average daily volume of 3,714,514 shares. The stock had previously closed at $3.19.

Lufax Stock Performance

The firm has a market capitalization of $2.60 billion, a P/E ratio of -3.89 and a beta of 0.77. The firm has a 50 day moving average price of $2.79 and a two-hundred day moving average price of $2.70.

Institutional Trading of Lufax

Hedge funds and other institutional investors have recently modified their holdings of the company. Catalyst Funds Management Pty Ltd raised its holdings in shares of Lufax by 999.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 888,000 shares of the company’s stock worth $2,122,000 after acquiring an additional 807,200 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Lufax by 27.5% during the third quarter. JPMorgan Chase & Co. now owns 63,235 shares of the company’s stock worth $221,000 after acquiring an additional 13,630 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Lufax by 43.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,895 shares of the company’s stock worth $10,829,000 after acquiring an additional 936,048 shares in the last quarter. State Street Corp raised its holdings in shares of Lufax by 3.2% during the third quarter. State Street Corp now owns 4,960,609 shares of the company’s stock worth $17,313,000 after acquiring an additional 155,006 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Lufax during the third quarter worth $1,479,000. 69.14% of the stock is currently owned by hedge funds and other 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.