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

FinVolution Group (NYSE:FINV) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 886,600 shares, a growth of 5.7% from the October 31st total of 838,900 shares. Based on an average daily trading volume, of 703,100 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.6% of the company’s stock are sold short.

Hedge Funds Weigh In On FinVolution Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of FinVolution Group by 8.3% in the third quarter. State Street Corp now owns 3,496,614 shares of the company’s stock valued at $21,609,000 after purchasing an additional 268,843 shares during the last quarter. Acadian Asset Management LLC grew its holdings in FinVolution Group by 12.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,861,280 shares of the company’s stock valued at $13,634,000 after buying an additional 317,682 shares during the last quarter. Dimensional Fund Advisors LP increased its position in FinVolution Group by 16.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,306 shares of the company’s stock worth $10,689,000 after buying an additional 315,366 shares during the period. American Century Companies Inc. lifted its holdings in shares of FinVolution Group by 5.9% during the second quarter. American Century Companies Inc. now owns 699,574 shares of the company’s stock worth $3,337,000 after buying an additional 39,252 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of FinVolution Group by 51.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 495,788 shares of the company’s stock valued at $3,064,000 after acquiring an additional 169,344 shares during the period. Institutional investors and hedge funds own 31.15% of the company’s stock.

FinVolution Group Stock Performance

FINV remained flat at $6.86 on Wednesday. 171,950 shares of the company were exchanged, compared to its average volume of 707,452. FinVolution Group has a 52-week low of $4.40 and a 52-week high of $7.24. The stock has a market cap of $1.82 billion, a P/E ratio of 5.91 and a beta of 0.48. The business has a 50-day moving average price of $6.22 and a 200 day moving average price of $5.49.

About FinVolution Group

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.