Ping An Insurance (Group) Company of China (OTCMKTS:PIAIF) Shares Down 6.9% – Here’s Why

Ping An Insurance (Group) Company of China, Ltd. (OTCMKTS:PIAIF)’s stock price fell 6.9% on Friday . The stock traded as low as $6.38 and last traded at $6.58. Approximately 34,362 shares traded hands during trading, an increase of 135% from the average daily volume of 14,604 shares. The stock had previously closed at $7.07.

Ping An Insurance (Group) Company of China Stock Performance

The stock has a 50-day simple moving average of $7.66 and a 200 day simple moving average of $8.22.

About Ping An Insurance (Group) Company of China

Ping An Insurance (Group) Company of China is one of the largest integrated financial services providers in China, headquartered in Shenzhen. Established in 1988, Ping An has grown into a diversified conglomerate, offering a broad range of insurance, banking, asset management and technology-driven financial services. The company is publicly traded on the Hong Kong and Shanghai stock exchanges, and its American depositary receipts are quoted over the counter under the ticker PIAIF.

At the core of Ping An’s operations is its insurance business, which encompasses life insurance, property and casualty insurance, health insurance and pension products.