Pintec Technology (NASDAQ:PT) Trading Down 2.3% – Here’s What Happened

Shares of Pintec Technology Holdings Ltd. (NASDAQ:PT) fell 2.3% during mid-day trading on Wednesday . The stock traded as low as $0.92 and last traded at $0.92. Approximately 5,339 shares traded hands during trading, a decline of 98% from the average session volume of 243,928 shares. The stock had previously closed at $0.9421.

Pintec Technology Price Performance

The company’s 50 day moving average is $0.94 and its 200 day moving average is $0.97.

Institutional Trading of Pintec Technology

A hedge fund recently bought a new position in Pintec Technology stock. Virtu Financial LLC bought a new position in shares of Pintec Technology Holdings Ltd. (NASDAQ:PT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 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. Institutional investors and hedge funds own 6.57% of the company’s stock.

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.