Lufax (NYSE:LU) Stock Price Down 5.9% - Here's Why

Lufax Holding Ltd (NYSE:LU - Get Free Report) fell 5.9% during mid-day trading on Wednesday . The stock traded as low as $2.40 and last traded at $2.41. 1,659,824 shares changed hands during trading, a decline of 53% from the average session volume of 3,529,491 shares. The stock had previously closed at $2.56.

Lufax Stock Performance

The company has a market cap of $2.04 billion, a P/E ratio of -3.06 and a beta of 0.71. The business's 50-day moving average price is $2.88 and its 200 day moving average price is $2.72.

Institutional Trading of Lufax

A number of hedge funds have recently made changes to their positions in LU. QRG Capital Management Inc. bought a new stake in Lufax in the 1st quarter valued at $70,000. SG Americas Securities LLC bought a new position in shares of Lufax in the first quarter valued at about $533,000. Wellington Management Group LLP acquired a new stake in shares of Lufax during the 4th quarter worth about $380,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Lufax by 16.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 491,713 shares of the company's stock worth $1,175,000 after buying an additional 67,900 shares during the period. Finally, Tiger Pacific Capital LP acquired a new position in Lufax in the 4th quarter valued at about $9,409,000. 69.14% of the stock is owned by institutional investors and hedge funds.

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.