X Financial (NYSE:XYF) Trading 2.3% Higher – Here’s Why

X Financial (NYSE:XYF) shares traded up 2.3% during mid-day trading on Monday . The company traded as high as $8.14 and last traded at $8.13. 16,657 shares were traded during mid-day trading, a decline of 31% from the average session volume of 24,155 shares. The stock had previously closed at $7.95.

X Financial Price Performance

The firm’s fifty day moving average is $6.97 and its 200 day moving average is $5.58. The firm has a market capitalization of $397.77 million, a price-to-earnings ratio of 2.15 and a beta of 0.35.

Hedge Funds Weigh In On X Financial

A hedge fund recently raised its stake in X Financial stock. Acadian Asset Management LLC raised its stake in shares of X Financial (NYSE:XYF) by 23.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,278 shares of the company’s stock after buying an additional 10,684 shares during the period. Acadian Asset Management LLC owned 0.12% of X Financial worth $237,000 at the end of the most recent quarter. 1.15% of the stock is owned by institutional investors and hedge funds.

X Financial Company Profile

X Financial provides personal finance services in the People’s Republic of China. The company offers services as an online marketplace connecting borrowers and investors or institutional funding partners. Its loan products include Xiaoying credit loan, which consists of Xiaoying card loan; and Xiaoying preferred loan to small business owners.