Lufax (NYSE:LU) Trading Up 5.5% - Here's What Happened

Lufax Holding Ltd (NYSE:LU - Get Free Report)'s stock price traded up 5.5% during trading on Tuesday . The company traded as high as $2.57 and last traded at $2.61. 2,708,859 shares changed hands during trading, a decline of 23% from the average session volume of 3,515,426 shares. The stock had previously closed at $2.47.

Lufax Stock Performance

The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -3.06 and a beta of 0.71. The firm's 50-day moving average price is $2.88 and its two-hundred day moving average price is $2.73.

Institutional Trading of Lufax

Several institutional investors have recently bought and sold shares of the stock. Tiger Pacific Capital LP acquired a new stake in shares of Lufax in the 4th quarter valued at $9,409,000. Marshall Wace LLP acquired a new position in Lufax in the fourth quarter valued at about $5,491,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Lufax during the fourth quarter worth about $5,436,000. Norges Bank acquired a new stake in shares of Lufax during the fourth quarter worth approximately $4,221,000. Finally, Nuveen Asset Management LLC raised its stake in shares of Lufax by 747.0% in the fourth quarter. Nuveen Asset Management LLC now owns 1,293,334 shares of the company's stock valued at $3,091,000 after acquiring an additional 1,140,634 shares during the last quarter. Institutional investors and hedge funds own 69.14% of the company's stock.

About Lufax

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.