FinVolution Group (NYSE:FINV) Sets New 1-Year High – Here’s What Happened

Shares of FinVolution Group (NYSE:FINV) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.33 and last traded at $7.32, with a volume of 690252 shares. The stock had previously closed at $7.22.

FinVolution Group Stock Performance

The company has a 50 day simple moving average of $6.77 and a 200 day simple moving average of $6.03. The company has a market capitalization of $2.03 billion, a PE ratio of 6.60 and a beta of 0.50.

Hedge Funds Weigh In On FinVolution Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of FinVolution Group by 16.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,242,306 shares of the company’s stock valued at $10,689,000 after purchasing an additional 315,366 shares during the period. Walleye Capital LLC grew its stake in shares of FinVolution Group by 134.4% in the 3rd quarter. Walleye Capital LLC now owns 476,294 shares of the company’s stock valued at $2,943,000 after buying an additional 273,055 shares during the period. State Street Corp grew its stake in shares of FinVolution Group by 8.3% in the 3rd quarter. State Street Corp now owns 3,496,614 shares of the company’s stock valued at $21,609,000 after buying an additional 268,843 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of FinVolution Group during the 2nd quarter worth approximately $1,039,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of FinVolution Group during the 3rd quarter valued at approximately $1,224,000. 31.15% of the stock is owned by hedge funds and other institutional investors.

FinVolution Group Company Profile

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.