Pintec Technology (NASDAQ:PT) Shares Up 1.7% – Here’s What Happened

Shares of Pintec Technology Holdings Ltd. (NASDAQ:PT) shot up 1.7% during mid-day trading on Wednesday . The stock traded as high as $0.9456 and last traded at $0.9456. 3,868 shares were traded during trading, a decline of 98% from the average daily volume of 243,928 shares. The stock had previously closed at $0.9301.

Pintec Technology Stock Up 0.9%

The business’s fifty day moving average is $0.98 and its 200 day moving average is $0.98.

Institutional Trading of Pintec Technology

An institutional investor recently bought a new stake in Pintec Technology stock. Virtu Financial LLC purchased a new stake in shares of Pintec Technology Holdings Ltd. (NASDAQ:PT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 49,986 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned about 0.32% of Pintec Technology at the end of the most recent reporting period. 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.