Pintec Technology (NASDAQ:PT) Trading Down 0.4% – Here’s Why

Shares of Pintec Technology Holdings Ltd. (NASDAQ:PT) dropped 0.4% during trading on Monday . The company traded as low as $0.9373 and last traded at $0.9520. Approximately 25,513 shares were traded during trading, a decline of 67% from the average daily volume of 77,486 shares. The stock had previously closed at $0.9558.

Pintec Technology Stock Down 0.4%

The business’s 50 day simple moving average is $0.98 and its two-hundred day simple moving average is $0.97.

Hedge Funds Weigh In On Pintec Technology

An institutional investor recently bought a new position in Pintec Technology stock. Virtu Financial LLC acquired a new position in Pintec Technology Holdings Ltd. (NASDAQ:PT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 49,986 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned about 0.32% of Pintec Technology as of its most recent SEC filing. 6.57% of the stock is owned by institutional investors.

About Pintec Technology

Pintec Technology Holdings Limited, founded in 2008 and headquartered in Beijing, is a leading fintech company that provides technology-enabled financial solutions to banks, consumer finance companies and other financial institutions in China. Its core business revolves around an origination-as-a-service platform that enables partners to quickly launch and manage digital lending and wealth management products. This platform covers the entire credit lifecycle, including customer acquisition, credit decisioning, risk management and post-loan servicing.

In addition to its fintech platform business, Pintec operates a content-based marketing platform that harnesses big data analytics and AI-driven algorithms to match financial service providers with potential customers through online media, social networks and other digital channels.