Mercurity Fintech (NASDAQ:MFH) Shares Up 1.7% – Should You Buy?

Shares of Mercurity Fintech Holding Inc. (NASDAQ:MFH) shot up 1.7% during trading on Friday . The stock traded as high as $7.90 and last traded at $7.31. 67,287 shares traded hands during trading, a decline of 50% from the average session volume of 135,697 shares. The stock had previously closed at $7.19.

Mercurity Fintech Stock Performance

The business’s 50 day simple moving average is $5.70 and its two-hundred day simple moving average is $5.53.

Institutional Investors Weigh In On Mercurity Fintech

Institutional investors and hedge funds have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in Mercurity Fintech during the 4th quarter valued at $83,000. Geode Capital Management LLC lifted its holdings in shares of Mercurity Fintech by 16.3% during the fourth quarter. Geode Capital Management LLC now owns 29,969 shares of the company’s stock valued at $205,000 after purchasing an additional 4,201 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Mercurity Fintech during the fourth quarter valued at $420,000. 683 Capital Management LLC bought a new stake in Mercurity Fintech in the 4th quarter worth about $423,000. Finally, Balyasny Asset Management L.P. purchased a new position in Mercurity Fintech in the 4th quarter worth about $174,000. Institutional investors own 30.82% of the company’s stock.

Mercurity Fintech Company Profile

Mercurity Fintech Holding Inc operates as a fintech company powered by blockchain. The company provides digital asset trading infrastructure solutions based on internet and blockchain technologies for cryptocurrency traders; and asset digitalization platform, which offers blockchain-based digitalization solutions for traditional assets, such as fiat currencies, bonds, and precious metals.