FinVolution Group (NYSE:FINV) Sees Strong Trading Volume – Here’s Why

Shares of FinVolution Group (NYSE:FINV) saw unusually-strong trading volume on Friday . Approximately 358,934 shares changed 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 Price Performance

The business has a 50-day moving average of $6.14 and a 200 day moving average of $5.45. The company has a market cap of $1.85 billion, a PE ratio of 6.09 and a beta of 0.45.

Hedge Funds Weigh In On FinVolution Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new position in FinVolution Group in the second quarter worth approximately $1,039,000. Caprock Group LLC bought a new stake in FinVolution Group during the second quarter valued at about $479,000. SG Americas Securities LLC purchased a new position in FinVolution Group in the 2nd quarter worth approximately $472,000. Dimensional Fund Advisors LP lifted its holdings in shares of FinVolution Group by 16.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,242,306 shares of the company’s stock worth $10,689,000 after buying an additional 315,366 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in FinVolution Group in the 3rd quarter worth $261,000. Hedge funds and other institutional investors own 31.15% of the company’s stock.

About FinVolution Group

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.