Global X FinTech ETF (NASDAQ:FINX) Stock Falls 2.8% – Here’s Why

Global X FinTech ETF (NASDAQ:FINX)’s share price dropped 2.8% during trading on Thursday. The stock traded as low as $23.92 and last traded at $23.93. 23,143 shares changed hands during trading, a decline of 70% from the average session volume of 76,805 shares. The stock had previously closed at $24.63.

Global X FinTech ETF Stock Down 2.8%

The stock has a market capitalization of $148.37 million, a P/E ratio of 19.54 and a beta of 1.55. The company has a fifty day simple moving average of $24.99 and a two-hundred day simple moving average of $25.13.

Hedge Funds Weigh In On Global X FinTech ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new position in shares of Global X FinTech ETF in the 2nd quarter valued at approximately $1,959,000. RPg Family Wealth Advisory LLC bought a new position in Global X FinTech ETF in the second quarter valued at approximately $377,000. Risk Paradigm Group LLC bought a new position in Global X FinTech ETF in the second quarter valued at approximately $377,000. Stelac Advisory Services LLC acquired a new position in shares of Global X FinTech ETF in the third quarter valued at approximately $327,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Global X FinTech ETF in the third quarter valued at approximately $207,000.

Global X FinTech ETF Company Profile

The Global X FinTech ETF (FINX) is an exchange-traded fund that is based on the Indxx Global Fintech Thematic index, a market-cap-weighted index of companies in developed markets that derive significant revenues from providing financial technology products and services. FINX was launched on Sep 12, 2016 and is managed by Global X.