Lufax (NYSE:LU) Trading Up 5.5% – Here’s What Happened

Lufax Holding Ltd (NYSE:LU)’s share price rose 5.5% during trading on Tuesday . The stock traded as high as $2.57 and last traded at $2.61. Approximately 2,708,859 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 3,515,426 shares. The stock had previously closed at $2.47.

Lufax Stock Up 5.3 %

The company has a market cap of $2.25 billion, a price-to-earnings ratio of -3.38 and a beta of 0.71. The business’s fifty day simple moving average is $2.89 and its two-hundred day simple moving average is $2.75.

Institutional Investors Weigh In On Lufax

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. grew its holdings in shares of Lufax by 0.3% during the fourth quarter. Baillie Gifford & Co. now owns 14,667,069 shares of the company’s stock worth $35,054,000 after purchasing an additional 49,964 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Lufax by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,143,366 shares of the company’s stock valued at $17,073,000 after purchasing an additional 70,181 shares during the period. State Street Corp grew its stake in Lufax by 3.2% during the 3rd quarter. State Street Corp now owns 4,960,609 shares of the company’s stock worth $17,313,000 after buying an additional 155,006 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Lufax by 35.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,205,838 shares of the company’s stock worth $10,052,000 after buying an additional 1,102,943 shares during the period. Finally, Tiger Pacific Capital LP purchased a new stake in Lufax in the fourth quarter valued at approximately $9,409,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.

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.