Lufax Holding Ltd. Sponsored ADR (NYSE:LU) Sees Large Drop in Short Interest

Lufax Holding Ltd. Sponsored ADR (NYSE:LU) saw a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 2,772,453 shares, a decline of 28.1% from the January 15th total of 3,856,017 shares. Based on an average trading volume of 1,092,645 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.3% of the shares of the company are short sold. Approximately 0.3% of the shares of the company are short sold. Based on an average trading volume of 1,092,645 shares, the days-to-cover ratio is currently 2.5 days.

Lufax Price Performance

LU opened at $2.69 on Friday. The firm has a fifty day moving average price of $2.67 and a 200 day moving average price of $2.92. Lufax has a 1 year low of $2.30 and a 1 year high of $4.57. The stock has a market cap of $2.33 billion, a P/E ratio of -3.50 and a beta of 0.63.

Institutional Trading of Lufax

Institutional investors and hedge funds have recently made changes to their positions in the business. Alpine Investment Management Ltd purchased a new stake in Lufax during the third quarter worth about $17,154,000. Norges Bank purchased a new position in shares of Lufax during the fourth quarter worth about $8,067,000. Yunqi Capital Ltd increased its position in Lufax by 42.3% in the 2nd quarter. Yunqi Capital Ltd now owns 10,098,040 shares of the company’s stock valued at $28,174,000 after acquiring an additional 3,000,000 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Lufax by 2,378.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,168,162 shares of the company’s stock valued at $6,049,000 after acquiring an additional 2,080,678 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in Lufax by 58.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,311,555 shares of the company’s stock valued at $9,239,000 after acquiring an additional 1,221,383 shares during the last quarter. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

About Lufax

Lufax (NYSE: LU) is a leading provider of online wealth management and personal finance services in China. Established in 2011 as a spin-off from Ping An Insurance (Group) Company of China, Lufax has developed a digital ecosystem designed to match retail and institutional investors with a diverse array of financial products. The company went public on the New York Stock Exchange in October 2020, underscoring its ambition to expand beyond its domestic market.

The firm’s core business activities include peer-to-peer lending, consumer finance, supply chain and small-business lending, as well as online asset management.