Mercurity Fintech (NASDAQ:MFH) Stock Price Down 12.8% – Here’s What Happened

Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ:MFH)’s share price dropped 12.8% during trading on Tuesday . The stock traded as low as $3.9050 and last traded at $4.01. Approximately 547,426 shares were traded during trading, an increase of 49% from the average daily volume of 368,355 shares. The stock had previously closed at $4.60.

Mercurity Fintech Trading Up 3.5%

The stock has a 50-day moving average price of $5.27 and a 200-day moving average price of $8.92.

Hedge Funds Weigh In On Mercurity Fintech

A number of hedge funds and other institutional investors have recently bought and sold shares of MFH. Millennium Management LLC raised its position in shares of Mercurity Fintech by 671.0% during the 1st quarter. Millennium Management LLC now owns 797,099 shares of the company’s stock valued at $4,272,000 after buying an additional 693,720 shares in the last quarter. Geode Capital Management LLC grew its position in Mercurity Fintech by 1,103.8% in the second quarter. Geode Capital Management LLC now owns 429,832 shares of the company’s stock worth $1,655,000 after acquiring an additional 394,126 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Mercurity Fintech by 200.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 132,406 shares of the company’s stock valued at $510,000 after acquiring an additional 88,265 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Mercurity Fintech by 120.7% during the first quarter. Goldman Sachs Group Inc. now owns 147,118 shares of the company’s stock valued at $789,000 after purchasing an additional 80,452 shares in the last quarter. Finally, Arete Wealth Advisors LLC purchased a new stake in Mercurity Fintech during the third quarter valued at about $1,273,000. Hedge funds and other institutional investors own 30.82% of the company’s stock.

About Mercurity Fintech

Mercurity Fintech Holding Inc operates as a fintech company powered by blockchain. The company provides digital asset trading infrastructure solutions based on internet and blockchain technologies for cryptocurrency traders; and asset digitalization platform, which offers blockchain-based digitalization solutions for traditional assets, such as fiat currencies, bonds, and precious metals. It also offers cryptocurrency mining services that provides computing power to the mining pool; and digital consultation services, such as digital payment solutions, asset management, and online and traditional brokerage services.