Qifu Technology (NASDAQ:QFIN) Shares Up 5.1% – Here’s Why

Qifu Technology, Inc. (NASDAQ:QFIN) was up 5.1% during mid-day trading on Friday . The stock traded as high as $30.86 and last traded at $30.86. Approximately 543,833 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 1,293,261 shares. The stock had previously closed at $29.37.

Qifu Technology Stock Performance

The stock’s 50 day simple moving average is $30.53 and its 200 day simple moving average is $24.24. The firm has a market cap of $4.96 billion, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 0.42 and a beta of 0.61.

Institutional Investors Weigh In On Qifu Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE raised its stake in shares of Qifu Technology by 16.5% in the third quarter. US Bancorp DE now owns 5,410 shares of the company’s stock worth $161,000 after purchasing an additional 765 shares during the last quarter. LMR Partners LLP grew its holdings in Qifu Technology by 3.0% during the third quarter. LMR Partners LLP now owns 30,816 shares of the company’s stock worth $919,000 after buying an additional 892 shares in the last quarter. XTX Topco Ltd raised its position in Qifu Technology by 9.1% in the 3rd quarter. XTX Topco Ltd now owns 11,913 shares of the company’s stock valued at $355,000 after buying an additional 997 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in Qifu Technology by 1.1% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 97,036 shares of the company’s stock valued at $1,915,000 after acquiring an additional 1,012 shares in the last quarter. Finally, Diversify Wealth Management LLC boosted its holdings in Qifu Technology by 4.7% during the 3rd quarter. Diversify Wealth Management LLC now owns 28,389 shares of the company’s stock worth $846,000 after acquiring an additional 1,284 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qifu Technology Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.