Lufax (NYSE:LU) Shares Gap Up – Time to Buy?

Lufax Holding Ltd (NYSE:LU) gapped up before the market opened on Monday . The stock had previously closed at $3.19, but opened at $3.33. Lufax shares last traded at $3.26, with a volume of 560,647 shares trading hands.

Lufax Trading Up 0.5 %

The business’s 50-day moving average is $2.75 and its two-hundred day moving average is $2.69. The stock has a market capitalization of $2.78 billion, a PE ratio of -4.16 and a beta of 0.77.

Institutional Trading of Lufax

A number of institutional investors have recently added to or reduced their stakes in LU. Tiger Pacific Capital LP purchased a new stake in Lufax during the 4th quarter worth $9,409,000. Marshall Wace LLP acquired a new position in Lufax in the 4th quarter worth $5,491,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Lufax in the 4th quarter worth $5,436,000. Norges Bank acquired a new position in Lufax in the 4th quarter worth $4,221,000. Finally, Nuveen Asset Management LLC lifted its holdings in Lufax by 747.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,293,334 shares of the company’s stock worth $3,091,000 after buying an additional 1,140,634 shares in the last quarter. 69.14% of the stock is owned by hedge funds and other institutional investors.

Lufax Company Profile

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.