Nisun International Enterprise Development Group (NASDAQ:NISN) Shares Up 2.6% – Here’s What Happened

Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) rose 2.6% on Monday . The company traded as high as $6.71 and last traded at $6.25. Approximately 136,016 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 142,519 shares. The stock had previously closed at $6.09.

Nisun International Enterprise Development Group Trading Down 0.9 %

The company has a 50-day moving average of $10.53 and a 200-day moving average of $9.34.

Nisun International Enterprise Development Group declared that its board has approved a share buyback program on Wednesday, October 9th that authorizes the company to repurchase $15.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 28.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Nisun International Enterprise Development Group

An institutional investor recently raised its position in Nisun International Enterprise Development Group stock. Acadian Asset Management LLC lifted its position in shares of Nisun International Enterprise Development Group Co., Ltd (NASDAQ:NISN) by 34.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,778 shares of the company’s stock after buying an additional 17,980 shares during the quarter. Acadian Asset Management LLC owned about 1.86% of Nisun International Enterprise Development Group worth $243,000 at the end of the most recent reporting period. 4.73% of the stock is owned by hedge funds and other institutional investors.

About Nisun International Enterprise Development Group

Nisun International Enterprise Development Group Co, Ltd (NASDAQ: NISN) is a technology-driven, integrated supply chain solutions provider focused on transforming the corporate finance industry. Leveraging its rich industry experience, Nisun is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions.