FinVolution Group (NYSE:FINV) Sees Large Increase in Short Interest

FinVolution Group (NYSE:FINV) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,940,000 shares, a growth of 12.8% from the December 31st total of 1,720,000 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 645,000 shares, the days-to-cover ratio is currently 3.0 days.

Hedge Funds Weigh In On FinVolution Group

Several hedge funds and other institutional investors have recently made changes to their positions in FINV. Dimensional Fund Advisors LP lifted its position in FinVolution Group by 16.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,242,306 shares of the company’s stock worth $10,689,000 after acquiring an additional 315,366 shares during the last quarter. Walleye Capital LLC grew its stake in shares of FinVolution Group by 134.4% in the third quarter. Walleye Capital LLC now owns 476,294 shares of the company’s stock worth $2,943,000 after purchasing an additional 273,055 shares during the last quarter. State Street Corp boosted its position in FinVolution Group by 8.3% during the third quarter. State Street Corp now owns 3,496,614 shares of the company’s stock valued at $21,609,000 after acquiring an additional 268,843 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of FinVolution Group in the 3rd quarter worth about $1,224,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in FinVolution Group by 51.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 495,788 shares of the company’s stock valued at $3,064,000 after buying an additional 169,344 shares during the last quarter. Hedge funds and other institutional investors own 31.15% of the company’s stock.

FinVolution Group Trading Down 1.2 %

Shares of FINV stock traded down $0.10 on Monday, reaching $7.55. The company’s stock had a trading volume of 725,894 shares, compared to its average volume of 773,357. The stock’s fifty day simple moving average is $6.95 and its 200-day simple moving average is $6.16. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 6.50 and a beta of 0.50. FinVolution Group has a 1 year low of $4.45 and a 1 year high of $7.97.

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.