Harvest Portfolios Group Inc. significantly expanded its holdings in Mercurity Fintech Holding Inc. Sponsored ADR (NASDAQ: MFH) by 171.8% during the second quarter of 2023. According to the latest Form 13F filing with the Securities and Exchange Commission, the institutional investor acquired an additional 21,104 shares, bringing its total ownership to 33,391 shares, valued at approximately $129,000.
Institutional Investors Adjust Positions
Other institutional investors also made notable changes to their positions in Mercurity Fintech. Y Intercept Hong Kong Ltd increased its stake by 146.4% in the first quarter, now owning 30,051 shares worth around $161,000 after acquiring an additional 17,856 shares. Invesco Ltd. entered the market with a new position valued at about $271,000 during the same period.
OMERS ADMINISTRATION Corp also raised its holdings by 122.0%, bringing its total to 44,175 shares valued at $237,000, following an additional purchase of 24,275 shares. Similarly, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. established a new stake valued at $237,000.
In a remarkable move, Millennium Management LLC increased its position by 671.0%, now holding 797,099 shares valued at approximately $4,272,000 after adding 693,720 shares to its portfolio. Overall, institutional investors and hedge funds collectively own 30.82% of Mercurity Fintech’s stock.
Stock Performance and Analyst Ratings
As of the last trading session, shares of MFH opened at $11.09. The stock has exhibited significant volatility, with a one-year low of $1.28 and a one-year high of $36.77. The 50-day moving average stands at $13.90, while the 200-day moving average is $7.84.
In analyst news, Weiss Ratings reaffirmed a “sell (e+)” rating on Mercurity Fintech shares in a report published on October 8, 2023. Currently, one equities research analyst rates the stock as a sell, and data from MarketBeat indicates a consensus rating of “sell” across analysts.
Mercurity Fintech Holding Inc. operates in the fintech sector, specializing in blockchain technology. The company provides digital asset trading infrastructure for cryptocurrency traders and offers an asset digitalization platform that facilitates blockchain-based solutions for traditional assets, including fiat currencies, bonds, and precious metals.
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