FinVolution Group (NYSE:FINV) Sees Significant Growth in Short Interest

FinVolution Group (NYSE:FINV) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,940,000 shares, an increase of 12.8% from the December 15th total of 1,720,000 shares. Based on an average daily volume of 645,000 shares, the short-interest ratio is currently 3.0 days. Approximately 1.3% of the shares of the company are sold short.

Institutional Trading of FinVolution Group

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of FinVolution Group in the third quarter valued at $58,000. Quadrature Capital Ltd bought a new stake in FinVolution Group in the 3rd quarter valued at about $94,000. Blue Trust Inc. raised its stake in FinVolution Group by 246.8% in the 3rd quarter. Blue Trust Inc. now owns 15,754 shares of the company’s stock valued at $97,000 after acquiring an additional 11,211 shares during the period. Ascent Group LLC purchased a new stake in FinVolution Group during the third quarter valued at about $103,000. Finally, Dark Forest Capital Management LP bought a new position in FinVolution Group during the second quarter worth about $139,000. Institutional investors own 31.15% of the company’s stock.

FinVolution Group Stock Performance

Shares of NYSE:FINV opened at $7.04 on Monday. The company has a market capitalization of $1.87 billion, a P/E ratio of 6.06 and a beta of 0.50. The company’s 50-day moving average is $6.67 and its 200 day moving average is $5.97. FinVolution Group has a fifty-two week low of $4.45 and a fifty-two week high of $7.29.

FinVolution Group Company Profile

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.