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

FinVolution Group (NYSE:FINV) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 1,940,000 shares, a growth of 12.8% from the December 15th total of 1,720,000 shares. Based on an average daily volume of 645,000 shares, the days-to-cover ratio is currently 3.0 days. Currently, 1.3% of the shares of the stock are short sold.

FinVolution Group Price Performance

FINV stock opened at $7.04 on Monday. The firm has a market cap of $1.87 billion, a PE ratio of 6.06 and a beta of 0.50. FinVolution Group has a 12 month low of $4.45 and a 12 month high of $7.29. The firm has a 50 day simple moving average of $6.67 and a 200 day simple moving average of $5.97.

Institutional Investors Weigh In On FinVolution Group

A number of institutional investors and hedge funds have recently modified their holdings of FINV. Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 315,366 shares in the last quarter. Walleye Capital LLC raised its position in FinVolution Group by 134.4% during the third quarter. Walleye Capital LLC now owns 476,294 shares of the company’s stock valued at $2,943,000 after acquiring an additional 273,055 shares in the last quarter. State Street Corp raised its holdings in shares of FinVolution Group by 8.3% during the 3rd 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 in the last quarter. Canada Pension Plan Investment Board bought a new position in FinVolution Group during the second quarter valued at about $1,039,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of FinVolution Group in the 3rd quarter valued at approximately $1,224,000. Institutional investors and hedge funds own 31.15% of the company’s stock.

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.