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Lufax (NYSE:LU) Shares Gap Up - Here's What Happened

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Lufax Holding Ltd (NYSE:LU - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $3.19, but opened at $3.33. Lufax shares last traded at $3.26, with a volume of 560,647 shares changing hands.

Lufax Price Performance

The company has a market cap of $2.60 billion, a PE ratio of -3.89 and a beta of 0.77. The stock has a fifty day moving average price of $2.78 and a 200-day moving average price of $2.69.

Hedge Funds Weigh In On Lufax

Several institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its holdings in shares of Lufax by 16.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 491,713 shares of the company's stock worth $1,175,000 after purchasing an additional 67,900 shares during the period. Tiger Pacific Capital LP purchased a new stake in Lufax in the 4th quarter worth approximately $9,409,000. Nuveen Asset Management LLC boosted its stake in shares of Lufax by 747.0% during the 4th quarter. Nuveen Asset Management LLC now owns 1,293,334 shares of the company's stock valued at $3,091,000 after buying an additional 1,140,634 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Lufax during the 4th quarter valued at $142,000. Finally, Millennium Management LLC increased its stake in shares of Lufax by 56.2% in the fourth quarter. Millennium Management LLC now owns 580,890 shares of the company's stock worth $1,388,000 after acquiring an additional 209,117 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company's stock.

About Lufax

(Get Free Report)

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.

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