Pintec Technology (NASDAQ:PT) Trading Up 1.1% – Here’s What Happened

Pintec Technology Holdings Ltd. (NASDAQ:PT)’s share price shot up 1.1% during trading on Wednesday . The company traded as high as $0.8950 and last traded at $0.86. Approximately 6,065 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 243,928 shares. The stock had previously closed at $0.8505.

Pintec Technology Price Performance

The company’s 50 day simple moving average is $1.00 and its 200-day simple moving average is $0.99.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pintec Technology stock. Virtu Financial LLC purchased a new stake in Pintec Technology Holdings Ltd. (NASDAQ:PT) during the third quarter, according to its most recent filing with the SEC. The firm purchased 49,986 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned 0.32% of Pintec Technology at the end of the most recent quarter. 6.57% of the stock is owned by hedge funds and other institutional investors.

Pintec Technology Company Profile

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.